Brokers Set Expectations for Heron Therapeutics Inc’s Q2 2019 Earnings (NASDAQ:HRTX)

Heron Therapeutics Inc (NASDAQ:HRTX) – Jefferies Financial Group boosted their Q2 2019 earnings per share (EPS) estimates for Heron Therapeutics in a report issued on Wednesday, May 1st, according to Zacks Investment Research. Jefferies Financial Group analyst B. Amin now expects that the biotechnology company will post earnings per share of ($0.53) for the quarter, up from their prior estimate of ($0.57). Jefferies Financial Group also issued estimates for Heron Therapeutics’ Q3 2019 earnings at ($0.46) EPS, Q4 2019 earnings at ($0.44) EPS, FY2019 earnings at ($2.13) EPS, FY2020 earnings at ($0.79) EPS, FY2021 earnings at $0.37 EPS, FY2022 earnings at $1.62 EPS and FY2023 earnings at $2.57 EPS.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.30). The firm had revenue of $31.60 million during the quarter, compared to analysts’ expectations of $28.04 million. Heron Therapeutics had a negative net margin of 194.43% and a negative return on equity of 49.22%. The firm’s revenue for the quarter was up 172.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.09) earnings per share.

Several other analysts also recently commented on HRTX. ValuEngine raised Heron Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. BidaskClub raised Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 price objective on shares of Heron Therapeutics in a research note on Friday, February 22nd. Cantor Fitzgerald set a $50.00 target price on Heron Therapeutics and gave the stock a “buy” rating in a research note on Friday, February 22nd. Finally, Northland Securities reissued a “buy” rating on shares of Heron Therapeutics in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $51.20.

HRTX traded down $0.39 on Monday, hitting $17.34. 801,961 shares of the company traded hands, compared to its average volume of 1,087,437. The company has a quick ratio of 4.06, a current ratio of 4.40 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.41 billion, a PE ratio of -7.10 and a beta of 1.45. Heron Therapeutics has a 12-month low of $16.20 and a 12-month high of $42.90.

In other Heron Therapeutics news, Director John Poyhonen bought 3,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average cost of $17.55 per share, with a total value of $52,650.00. Following the purchase, the director now owns 13,000 shares in the company, valued at approximately $228,150. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Waage Christian purchased 1,400 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $18.04 per share, for a total transaction of $25,256.00. Following the acquisition, the director now owns 1,400 shares in the company, valued at $25,256. The disclosure for this purchase can be found here. Corporate insiders own 12.56% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Heron Therapeutics in the 4th quarter worth approximately $13,679,000. Boston Advisors LLC grew its holdings in shares of Heron Therapeutics by 443.9% in the 1st quarter. Boston Advisors LLC now owns 134,559 shares of the biotechnology company’s stock worth $3,288,000 after acquiring an additional 109,819 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Heron Therapeutics by 144.6% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,690 shares of the biotechnology company’s stock worth $511,000 after acquiring an additional 11,640 shares during the period. Vanguard Group Inc grew its holdings in shares of Heron Therapeutics by 36.7% in the 3rd quarter. Vanguard Group Inc now owns 6,193,249 shares of the biotechnology company’s stock worth $196,016,000 after acquiring an additional 1,661,318 shares during the period. Finally, Legal & General Group Plc grew its holdings 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 worth $716,000 after acquiring an additional 1,679 shares during the period.

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

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