Analysts predict that Heron Therapeutics Inc (NASDAQ:HRTX) will report earnings per share (EPS) of ($0.66) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Heron Therapeutics’ earnings, with estimates ranging from ($0.95) to ($0.45). Heron Therapeutics posted earnings of ($0.80) per share in the same quarter last year, which suggests a positive year over year growth rate of 17.5%. The business is expected to announce its next quarterly earnings results on Wednesday, August 8th.
On average, analysts expect that Heron Therapeutics will report full year earnings of ($2.38) per share for the current financial year, with EPS estimates ranging from ($3.51) to ($1.75). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.53) per share, with EPS estimates ranging from ($1.78) to $0.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Heron Therapeutics.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.06. Heron Therapeutics had a negative net margin of 515.27% and a negative return on equity of 239.94%. The business had revenue of $11.60 million during the quarter, compared to the consensus estimate of $11.10 million. Heron Therapeutics’s quarterly revenue was up 222.2% on a year-over-year basis.
Several research analysts have commented on HRTX shares. Evercore ISI started coverage on shares of Heron Therapeutics in a research report on Thursday, April 5th. They set an “outperform” rating and a $56.00 price objective for the company. ValuEngine downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, March 19th. Lake Street Capital set a $42.00 price objective on shares of Heron Therapeutics and gave the company a “buy” rating in a research report on Thursday, April 5th. Cantor Fitzgerald set a $40.00 price objective on shares of Heron Therapeutics and gave the company a “buy” rating in a research report on Friday, April 6th. Finally, Northland Securities restated a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a research report on Monday, March 26th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $42.38.
In other news, CEO Barry D. Quart sold 50,000 shares of the company’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $39.05, for a total transaction of $1,952,500.00. Following the completion of the transaction, the chief executive officer now directly owns 69,600 shares in the company, valued at $2,717,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.20% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Tang Capital Management LLC increased its holdings in shares of Heron Therapeutics by 2.1% during the first quarter. Tang Capital Management LLC now owns 8,648,252 shares of the biotechnology company’s stock worth $238,692,000 after buying an additional 181,875 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Heron Therapeutics by 18.0% during the first quarter. BlackRock Inc. now owns 3,512,721 shares of the biotechnology company’s stock worth $96,952,000 after buying an additional 535,285 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Heron Therapeutics during the first quarter worth $50,005,000. Carillon Tower Advisers Inc. acquired a new position in shares of Heron Therapeutics during the first quarter worth $33,651,000. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of Heron Therapeutics by 33.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 838,117 shares of the biotechnology company’s stock worth $15,170,000 after buying an additional 208,548 shares in the last quarter.
Heron Therapeutics traded down $1.10, hitting $40.90, during trading on Thursday, according to MarketBeat Ratings. 1,556,581 shares of the stock traded hands, compared to its average volume of 1,339,248. Heron Therapeutics has a twelve month low of $12.70 and a twelve month high of $42.90. The company has a market cap of $2.92 billion, a P/E ratio of 11.21 and a beta of 1.87.
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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