Equities analysts predict that Heron Therapeutics Inc (NASDAQ:HRTX) will announce sales of $31.91 million for the current quarter, Zacks reports. Four analysts have provided estimates for Heron Therapeutics’ earnings, with the highest sales estimate coming in at $34.60 million and the lowest estimate coming in at $26.80 million. Heron Therapeutics posted sales of $17.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 84.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Heron Therapeutics will report full-year sales of $119.99 million for the current year, with estimates ranging from $114.40 million to $124.85 million. For the next year, analysts anticipate that the firm will report sales of $213.63 million, with estimates ranging from $185.00 million to $253.70 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Heron Therapeutics.
Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results 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). Heron Therapeutics had a negative net margin of 194.43% and a negative return on equity of 49.22%. The firm had revenue of $31.60 million during the quarter, compared to analyst estimates of $28.04 million. During the same period in the prior year, the business earned ($1.09) EPS. The business’s revenue for the quarter was up 172.4% compared to the same quarter last year.
Several analysts have issued reports on HRTX shares. BidaskClub raised Heron Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 18th. ValuEngine raised Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Northland Securities set a $55.00 price target on Heron Therapeutics and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $38.00 price target on shares of Heron Therapeutics in a research note on Wednesday, May 1st. Finally, Cowen reissued a “buy” rating on shares of Heron Therapeutics in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.20.
Shares of HRTX traded up $0.15 during midday trading on Wednesday, hitting $18.97. The stock had a trading volume of 53,586 shares, compared to its average volume of 1,016,996. The firm has a 50 day moving average of $17.97. Heron Therapeutics has a twelve month low of $16.20 and a twelve month high of $41.55. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.77 and a beta of 1.59. The company has a current ratio of 4.40, a quick ratio of 4.06 and a debt-to-equity ratio of 0.04.
In related news, Director Waage Christian bought 1,400 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $18.04 per share, with a total value of $25,256.00. Following the completion of the transaction, the director now owns 1,400 shares in the company, valued at $25,256. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Poyhonen bought 3,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was bought at an average cost of $17.55 per share, for a total transaction of $52,650.00. Following the transaction, the director now owns 13,000 shares of the company’s stock, valued at approximately $228,150. The disclosure for this purchase can be found here. 12.56% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of HRTX. Private Asset Management Inc. increased its holdings in shares of Heron Therapeutics by 3.8% during the second quarter. Private Asset Management Inc. now owns 95,950 shares of the biotechnology company’s stock worth $1,784,000 after buying an additional 3,495 shares in the last quarter. First Trust Advisors LP increased its holdings in Heron Therapeutics by 6.1% in the first quarter. First Trust Advisors LP now owns 75,331 shares of the biotechnology company’s stock valued at $1,841,000 after purchasing an additional 4,335 shares during the period. FMR LLC increased its holdings in Heron Therapeutics by 5.5% in the first quarter. FMR LLC now owns 8,473,847 shares of the biotechnology company’s stock valued at $207,101,000 after purchasing an additional 439,044 shares during the period. Clearbridge Investments LLC increased its holdings in Heron Therapeutics by 153.4% in the first quarter. Clearbridge Investments LLC now owns 2,180,577 shares of the biotechnology company’s stock valued at $53,293,000 after purchasing an additional 1,320,025 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in Heron Therapeutics in the first quarter valued at $323,000.
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.
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