Analysts Anticipate Heron Therapeutics Inc (NASDAQ:HRTX) to Post -$0.67 EPS

Wall Street analysts predict that Heron Therapeutics Inc (NASDAQ:HRTX) will post earnings per share of ($0.67) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Heron Therapeutics’ earnings, with estimates ranging from ($0.77) to ($0.53). Heron Therapeutics reported earnings of ($0.54) per share in the same quarter last year, which would suggest a negative year over year growth rate of 24.1%. The company is expected to report its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Heron Therapeutics will report full-year earnings of ($2.66) per share for the current year, with EPS estimates ranging from ($3.15) to ($2.22). For the next fiscal year, analysts expect that the firm will post earnings of ($1.32) per share, with EPS estimates ranging from ($1.67) to ($0.90). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Heron Therapeutics.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.30). The business had revenue of $31.60 million for the quarter, compared to analysts’ expectations of $28.04 million. Heron Therapeutics had a negative net margin of 194.43% and a negative return on equity of 49.22%. The business’s quarterly revenue was up 172.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.09) earnings per share.

Several brokerages recently issued reports on HRTX. Zacks Investment Research lowered shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Cantor Fitzgerald set a $50.00 price objective on shares of Heron Therapeutics and gave the company a “buy” rating in a report on Friday, February 22nd. BidaskClub lowered shares of Heron Therapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 27th. Northland Securities reaffirmed a “buy” rating and issued a $55.00 price target on shares of Heron Therapeutics in a report on Thursday, May 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Heron Therapeutics in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Heron Therapeutics presently has a consensus rating of “Buy” and an average target price of $51.20.

HRTX stock traded up $0.58 during trading on Friday, hitting $17.71. 667,775 shares of the company’s stock traded hands, compared to its average volume of 844,199. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -7.26 and a beta of 1.61. The company has a quick ratio of 4.06, a current ratio of 4.40 and a debt-to-equity ratio of 0.04. Heron Therapeutics has a 1 year low of $16.20 and a 1 year high of $42.90.

In other news, Director John Poyhonen purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $17.55 per share, with a total value of $52,650.00. Following the completion of the acquisition, the director now owns 13,000 shares of the company’s stock, valued at $228,150. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Waage Christian purchased 1,400 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $18.04 per share, for a total transaction of $25,256.00. Following the completion of the acquisition, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $25,256. The disclosure for this purchase can be found here. 12.56% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its holdings in Heron Therapeutics by 96.4% in the first quarter. Advisor Group Inc. now owns 1,416 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 695 shares during the last quarter. Parallel Advisors LLC grew its holdings in Heron Therapeutics by 247.4% in the first quarter. Parallel Advisors LLC now owns 1,685 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 1,200 shares during the last quarter. Pearl River Capital LLC grew its holdings in Heron Therapeutics by 1,900.0% in the first quarter. Pearl River Capital LLC now owns 2,000 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,900 shares during the last quarter. US Bancorp DE purchased a new position in Heron Therapeutics in the first quarter worth $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Heron Therapeutics by 24.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,747 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 929 shares during the last quarter.

About Heron Therapeutics

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments 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.

Featured Story: Benefits of owning preferred stock

Get a free copy of the Zacks research report on Heron Therapeutics (HRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Heron Therapeutics (NASDAQ:HRTX)

Receive News & Ratings for Heron Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heron Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.