Analysts expect Heron Therapeutics (NASDAQ:HRTX) to report $11.26 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Heron Therapeutics’ earnings, with the lowest sales estimate coming in at $8.50 million and the highest estimate coming in at $12.90 million. Heron Therapeutics reported sales of $3.63 million during the same quarter last year, which indicates a positive year over year growth rate of 210.2%. The firm is expected to issue its next earnings results on Wednesday, May 9th.
According to Zacks, analysts expect that Heron Therapeutics will report full year sales of $67.48 million for the current fiscal year, with estimates ranging from $65.00 million to $69.71 million. For the next fiscal year, analysts forecast that the company will post sales of $164.78 million per share, with estimates ranging from $99.52 million to $230.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Heron Therapeutics.
Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.29). Heron Therapeutics had a negative net margin of 641.87% and a negative return on equity of 230.70%. The company had revenue of $10.05 million for the quarter, compared to the consensus estimate of $9.00 million.
HRTX has been the subject of a number of recent research reports. Lake Street Capital set a $42.00 target price on shares of Heron Therapeutics and gave the company a “buy” rating in a report on Thursday, April 5th. Noble Financial reissued a “buy” rating on shares of Heron Therapeutics in a report on Wednesday, March 21st. BidaskClub lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Cantor Fitzgerald set a $40.00 target price on shares of Heron Therapeutics and gave the company a “buy” rating in a report on Monday, March 19th. Finally, Cowen reissued a “buy” rating on shares of Heron Therapeutics in a report on Monday, March 19th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $35.92.
Shares of HRTX stock traded down $0.20 on Friday, reaching $30.70. The company’s stock had a trading volume of 917,871 shares, compared to its average volume of 1,278,362. Heron Therapeutics has a 1 year low of $12.70 and a 1 year high of $32.70. The firm has a market cap of $2,132.40, a PE ratio of 8.46 and a beta of 1.88.
In other Heron Therapeutics news, VP Kimberly Manhard sold 18,000 shares of Heron Therapeutics stock in a transaction on Monday, March 19th. The shares were sold at an average price of $30.00, for a total transaction of $540,000.00. Following the completion of the transaction, the vice president now directly owns 18,000 shares of the company’s stock, valued at $540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry D. Quart sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $24.75, for a total transaction of $2,475,000.00. Following the sale, the chief executive officer now directly owns 167,993 shares of the company’s stock, valued at $4,157,826.75. The disclosure for this sale can be found here. Insiders have sold 218,000 shares of company stock valued at $5,990,000 over the last ninety days. 19.93% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of HRTX. Ellington Management Group LLC purchased a new stake in shares of Heron Therapeutics during the fourth quarter valued at $195,000. Pinnacle Associates Ltd. bought a new stake in shares of Heron Therapeutics in the fourth quarter valued at about $201,000. Jefferies Group LLC bought a new stake in shares of Heron Therapeutics in the fourth quarter valued at about $214,000. Jane Street Group LLC bought a new stake in shares of Heron Therapeutics in the third quarter valued at about $223,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Heron Therapeutics in the fourth quarter valued at about $230,000. 97.41% of the stock is owned by hedge funds and other institutional investors.
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About Heron Therapeutics
Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.
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