Brokerages Anticipate Heron Therapeutics Inc (HRTX) Will Post Earnings of -$0.48 Per Share

Analysts expect Heron Therapeutics Inc (NASDAQ:HRTX) to post ($0.48) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Heron Therapeutics’ earnings. The highest EPS estimate is ($0.29) and the lowest is ($0.60). Heron Therapeutics posted earnings per share of ($0.77) during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.7%. The company is scheduled to announce its next earnings results on Monday, November 5th.

According to Zacks, analysts expect that Heron Therapeutics will report full-year earnings of ($2.21) per share for the current fiscal year, with EPS estimates ranging from ($2.56) to ($1.81). For the next financial year, analysts forecast that the firm will report earnings of ($0.58) per share, with EPS estimates ranging from ($1.48) to $0.45. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Heron Therapeutics.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. Heron Therapeutics had a negative return on equity of 112.35% and a negative net margin of 411.41%. The firm had revenue of $17.28 million for the quarter, compared to analysts’ expectations of $12.82 million. During the same quarter in the prior year, the firm earned ($0.80) EPS. The business’s revenue for the quarter was up 103.1% compared to the same quarter last year.



A number of research analysts have recently commented on HRTX shares. BidaskClub raised Heron Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, May 19th. Cantor Fitzgerald set a $40.00 price target on Heron Therapeutics and gave the company a “buy” rating in a research report on Thursday, May 24th. ValuEngine raised Heron Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 2nd. Evercore ISI upped their price target on Heron Therapeutics from $56.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, June 21st. Finally, Needham & Company LLC upped their price target on Heron Therapeutics to $66.00 and gave the company a “positive” rating in a research report on Thursday, June 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Heron Therapeutics has an average rating of “Buy” and a consensus price target of $50.50.

Shares of NASDAQ HRTX opened at $34.65 on Friday. Heron Therapeutics has a one year low of $14.40 and a one year high of $42.90. The firm has a market cap of $2.72 billion, a PE ratio of 9.49 and a beta of 1.44.

In related news, Director Kevin C. Tang sold 2,695,000 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total transaction of $96,346,250.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Kimberly Manhard sold 6,000 shares of the stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $37.53, for a total value of $225,180.00. Following the sale, the vice president now directly owns 6,000 shares in the company, valued at approximately $225,180. The disclosure for this sale can be found here. Insiders have sold a total of 3,135,469 shares of company stock worth $113,565,208 in the last three months. 16.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Heron Therapeutics by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 299,384 shares of the biotechnology company’s stock worth $11,632,000 after purchasing an additional 19,966 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Heron Therapeutics by 31.6% during the 2nd quarter. California Public Employees Retirement System now owns 78,555 shares of the biotechnology company’s stock worth $3,052,000 after purchasing an additional 18,855 shares in the last quarter. Castleark Management LLC lifted its holdings in Heron Therapeutics by 237.5% during the 2nd quarter. Castleark Management LLC now owns 201,080 shares of the biotechnology company’s stock worth $7,812,000 after purchasing an additional 141,505 shares in the last quarter. Millennium Management LLC purchased a new stake in Heron Therapeutics during the 2nd quarter worth about $6,968,000. Finally, Orbimed Advisors LLC lifted its holdings in Heron Therapeutics by 15.4% during the 2nd quarter. Orbimed Advisors LLC now owns 1,315,100 shares of the biotechnology company’s stock worth $51,092,000 after purchasing an additional 175,300 shares in the last quarter.

Heron Therapeutics Company Profile

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

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