Cantor Fitzgerald Weighs in on Heron Therapeutics, Inc.’s FY2020 Earnings (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) – Analysts at Cantor Fitzgerald upped their FY2020 earnings estimates for Heron Therapeutics in a research report issued on Tuesday, January 12th. Cantor Fitzgerald analyst B. Folkes now anticipates that the biotechnology company will post earnings of ($2.37) per share for the year, up from their prior estimate of ($2.39). Cantor Fitzgerald also issued estimates for Heron Therapeutics’ FY2021 earnings at ($2.19) EPS.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Thursday, November 5th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.01). Heron Therapeutics had a negative return on equity of 65.06% and a negative net margin of 216.18%. The company had revenue of $19.97 million for the quarter, compared to the consensus estimate of $18.00 million.

Several other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Heron Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, November 23rd. BidaskClub downgraded Heron Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 7th. SVB Leerink raised their target price on Heron Therapeutics from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 2nd. Finally, Zacks Investment Research raised shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $30.88.

Shares of NASDAQ:HRTX opened at $18.16 on Thursday. The company has a market capitalization of $1.65 billion, a P/E ratio of -7.35 and a beta of 1.49. Heron Therapeutics has a 1 year low of $9.60 and a 1 year high of $24.76. The business’s 50 day simple moving average is $19.09 and its 200 day simple moving average is $16.67.

Several institutional investors have recently added to or reduced their stakes in the company. Smith Asset Management Group LP lifted its holdings in shares of Heron Therapeutics by 32.4% in the 3rd quarter. Smith Asset Management Group LP now owns 3,720 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 910 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Heron Therapeutics by 90.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,000 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 950 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Heron Therapeutics by 53.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,136 shares of the biotechnology company’s stock worth $61,000 after buying an additional 1,438 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Heron Therapeutics by 2.2% in the 3rd quarter. D.A. Davidson & CO. now owns 80,429 shares of the biotechnology company’s stock worth $1,192,000 after buying an additional 1,710 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Heron Therapeutics by 16.7% in the 3rd quarter. LPL Financial LLC now owns 21,783 shares of the biotechnology company’s stock worth $323,000 after buying an additional 3,125 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.

In related news, COO David Leslie Szekeres sold 3,571 shares of the firm’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $19.66, for a total transaction of $70,205.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.85% of the company’s stock.

Heron Therapeutics Company Profile

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

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