Heron Therapeutics, Inc. (NASDAQ:HRTX – Get Rating) – Research analysts at Jefferies Financial Group cut their FY2022 earnings estimates for Heron Therapeutics in a research report issued to clients and investors on Monday, September 19th. Jefferies Financial Group analyst K. Shi now anticipates that the biotechnology company will earn ($1.60) per share for the year, down from their previous estimate of ($1.59). The consensus estimate for Heron Therapeutics' current full-year earnings is ($1.76) per share. Jefferies Financial Group also issued estimates for Heron Therapeutics' Q4 2022 earnings at ($0.12) EPS, FY2023 earnings at ($0.81) EPS, FY2024 earnings at ($0.31) EPS, FY2025 earnings at $0.06 EPS and FY2026 earnings at $0.40 EPS.
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A number of other brokerages have also issued reports on HRTX. Needham & Company LLC reduced their price target on Heron Therapeutics from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, June 30th. Cowen reduced their price objective on shares of Heron Therapeutics to $5.50 in a report on Monday, August 15th. Finally, StockNews.com raised shares of Heron Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, August 11th.
Heron Therapeutics Stock Performance
Shares of HRTX stock opened at $4.31 on Thursday. Heron Therapeutics has a 12-month low of $2.19 and a 12-month high of $12.89. The company has a debt-to-equity ratio of 6.22, a current ratio of 1.77 and a quick ratio of 1.21. The firm has a market capitalization of $442.34 million, a price-to-earnings ratio of -1.93 and a beta of 1.15. The business has a 50 day simple moving average of $4.04 and a 200 day simple moving average of $4.14.
Heron Therapeutics (NASDAQ:HRTX – Get Rating) last posted its earnings results on Tuesday, August 9th. The biotechnology company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.05). The firm had revenue of $27.63 million during the quarter, compared to the consensus estimate of $24.65 million. Heron Therapeutics had a negative return on equity of 457.73% and a negative net margin of 239.34%. Heron Therapeutics's revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.62) EPS.
Hedge Funds Weigh In On Heron Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. grew its position in Heron Therapeutics by 5.0% during the second quarter. American International Group Inc. now owns 48,168 shares of the biotechnology company's stock valued at $134,000 after purchasing an additional 2,299 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in shares of Heron Therapeutics by 90.9% during the 1st quarter. Zullo Investment Group Inc. now owns 6,300 shares of the biotechnology company's stock valued at $36,000 after buying an additional 3,000 shares during the period. Grimes & Company Inc. grew its holdings in shares of Heron Therapeutics by 30.9% during the 1st quarter. Grimes & Company Inc. now owns 15,088 shares of the biotechnology company's stock valued at $86,000 after acquiring an additional 3,561 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Heron Therapeutics by 7.3% in the second quarter. Mackenzie Financial Corp now owns 58,257 shares of the biotechnology company's stock worth $163,000 after acquiring an additional 3,975 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Heron Therapeutics by 31.9% during the fourth quarter. Teacher Retirement System of Texas now owns 18,443 shares of the biotechnology company's stock worth $168,000 after acquiring an additional 4,460 shares in the last quarter.
Heron Therapeutics Company Profile
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Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet patient needs. The company's product candidates utilize its proprietary Biochronomer, a 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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