Zacks: Brokerages Expect Heron Therapeutics Inc (NASDAQ:HRTX) Will Post Earnings of -$0.68 Per Share

Brokerages expect that Heron Therapeutics Inc (NASDAQ:HRTX) will announce earnings of ($0.68) per share for the current quarter, Zacks reports. Four analysts have made estimates for Heron Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.56) and the lowest estimate coming in at ($0.77). Heron Therapeutics reported earnings of ($0.54) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 25.9%. The business is expected to report its next quarterly earnings results on Wednesday, August 14th.

On average, 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 year, analysts forecast that the business will post earnings of ($1.30) per share, with EPS estimates ranging from ($1.67) to ($0.83). Zacks’ EPS averages are an average based on a survey of research analysts that cover Heron Therapeutics.

Heron Therapeutics (NASDAQ:HRTX) last issued 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 business had revenue of $31.60 million during the quarter, compared to the consensus estimate of $28.04 million. During the same quarter in the previous year, the business posted ($1.09) EPS. The company’s revenue for the quarter was up 172.4% on a year-over-year basis.

Several equities analysts have recently issued reports on the company. Cowen reiterated a “buy” rating on shares of Heron Therapeutics in a research note on Thursday, May 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 price target on shares of Heron Therapeutics in a research note on Wednesday, May 1st. BidaskClub upgraded Heron Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 18th. Northland Securities reiterated a “buy” rating and issued a $55.00 price target on shares of Heron Therapeutics in a research note on Thursday, May 9th. Finally, ValuEngine lowered Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Heron Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $48.20.

In other news, Director Waage Christian acquired 1,400 shares of Heron Therapeutics stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $18.04 per share, for a total transaction of $25,256.00. Following the transaction, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $25,256. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Poyhonen acquired 3,000 shares of Heron Therapeutics stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average price of $17.55 per share, for a total transaction of $52,650.00. Following the transaction, the director now directly owns 13,000 shares in the company, valued at $228,150. The disclosure for this purchase can be found here. Company insiders own 12.56% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL grew its position in Heron Therapeutics by 2.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 36,100 shares of the biotechnology company’s stock worth $882,000 after acquiring an additional 800 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Heron Therapeutics by 247.4% in the 1st quarter. Parallel Advisors LLC now owns 1,685 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 1,200 shares during the last quarter. Mackay Shields LLC grew its position in shares of Heron Therapeutics by 7.0% in the 4th quarter. Mackay Shields LLC now owns 23,975 shares of the biotechnology company’s stock valued at $622,000 after buying an additional 1,575 shares during the last quarter. Legal & General Group Plc grew its position in shares of Heron Therapeutics by 6.5% in the 4th quarter. Legal & General Group Plc now owns 27,564 shares of the biotechnology company’s stock valued at $716,000 after buying an additional 1,679 shares during the last quarter. Finally, Pearl River Capital LLC grew its position in shares of Heron Therapeutics by 1,900.0% in the 1st quarter. Pearl River Capital LLC now owns 2,000 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,900 shares during the last quarter.

Shares of HRTX traded down $0.39 during midday trading on Wednesday, hitting $17.44. The company’s stock had a trading volume of 970,371 shares, compared to its average volume of 981,711. Heron Therapeutics has a one year low of $16.20 and a one year high of $41.55. The company’s fifty day moving average price is $18.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.40 and a quick ratio of 4.06. The company has a market cap of $1.38 billion, a PE ratio of -7.15 and a beta of 1.59.

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 Article: Cost of equity and a company’s balance sheet

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.