Heron Therapeutics (HRTX) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Heron Therapeutics (NASDAQ:HRTX) issued its quarterly earnings data on Wednesday. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.05), Briefing.com reports. The business had revenue of $19.79 million for the quarter, compared to analyst estimates of $19.84 million. Heron Therapeutics had a negative return on equity of 112.35% and a negative net margin of 411.41%. The business’s quarterly revenue was up 130.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.77) earnings per share.

HRTX traded down $0.56 during trading on Thursday, reaching $30.55. The stock had a trading volume of 490,520 shares, compared to its average volume of 984,231. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 8.37 and a beta of 1.45. Heron Therapeutics has a 1-year low of $14.95 and a 1-year high of $42.90.

In other Heron Therapeutics news, VP Kimberly Manhard sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $32.07, for a total value of $192,420.00. Following the completion of the sale, the vice president now directly owns 6,000 shares in the company, valued at $192,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin C. Tang sold 2,695,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total value of $96,346,250.00. The disclosure for this sale can be found here. Insiders sold 2,701,494 shares of company stock valued at $96,553,796 over the last 90 days. 16.20% of the stock is currently owned by insiders.

HRTX has been the subject of several analyst reports. Cantor Fitzgerald set a $50.00 price objective on Heron Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research upgraded Heron Therapeutics from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, July 18th. BidaskClub downgraded Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. ValuEngine downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Stifel Nicolaus initiated coverage on Heron Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.09.

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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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Earnings History for Heron Therapeutics (NASDAQ:HRTX)

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