Brokerages Expect Heron Therapeutics, Inc. (NASDAQ:HRTX) Will Announce Quarterly Sales of $22.00 Million

Equities analysts predict that Heron Therapeutics, Inc. (NASDAQ:HRTX – Get Rating) will announce $22.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Heron Therapeutics’ earnings. The highest sales estimate is $23.00 million and the lowest is $21.00 million. Heron Therapeutics reported sales of $20.02 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The company is expected to issue its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Heron Therapeutics will report full-year sales of $112.40 million for the current financial year, with estimates ranging from $105.00 million to $119.80 million. For the next financial year, analysts expect that the firm will report sales of $174.75 million, with estimates ranging from $174.50 million to $175.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Heron Therapeutics.

Heron Therapeutics (NASDAQ:HRTX – Get Rating) last released its quarterly earnings results on Monday, February 28th. The biotechnology company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.05. The company had revenue of $20.66 million during the quarter, compared to analysts’ expectations of $25.77 million. Heron Therapeutics had a negative return on equity of 159.70% and a negative net margin of 255.58%. Heron Therapeutics’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.68) EPS.

A number of equities analysts have commented on HRTX shares. Needham & Company LLC reduced their target price on Heron Therapeutics from $24.00 to $16.00 in a report on Tuesday, March 1st. StockNews.com started coverage on Heron Therapeutics in a report on Thursday, March 31st. They set a “sell” rating for the company. Cowen dropped their price target on Heron Therapeutics from $31.00 to $13.00 in a research report on Tuesday, March 1st. Cantor Fitzgerald dropped their price target on Heron Therapeutics from $26.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, March 1st. Finally, Zacks Investment Research lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, February 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.46.

A number of institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in Heron Therapeutics by 18.5% in the fourth quarter. State Street Corp now owns 7,692,411 shares of the biotechnology company’s stock worth $70,232,000 after acquiring an additional 1,200,504 shares during the period. BlackRock Inc. grew its position in Heron Therapeutics by 2.0% in the third quarter. BlackRock Inc. now owns 7,672,868 shares of the biotechnology company’s stock worth $82,023,000 after acquiring an additional 151,019 shares during the period. ArrowMark Colorado Holdings LLC grew its position in Heron Therapeutics by 8.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 6,421,335 shares of the biotechnology company’s stock worth $68,644,000 after acquiring an additional 517,367 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Heron Therapeutics by 18.0% during the fourth quarter. JPMorgan Chase & Co. now owns 6,254,766 shares of the biotechnology company’s stock worth $57,105,000 after buying an additional 952,969 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its position in shares of Heron Therapeutics by 21.8% during the fourth quarter. Palisade Capital Management LLC NJ now owns 3,034,172 shares of the biotechnology company’s stock worth $27,702,000 after buying an additional 542,589 shares during the period.

NASDAQ HRTX opened at $4.11 on Friday. The stock has a market capitalization of $419.80 million, a price-to-earnings ratio of -1.83 and a beta of 1.37. Heron Therapeutics has a twelve month low of $3.95 and a twelve month high of $18.80. The company has a current ratio of 3.58, a quick ratio of 2.90 and a debt-to-equity ratio of 1.92. The stock has a 50-day moving average of $5.39 and a 200 day moving average of $7.99.

About Heron Therapeutics (Get Rating)

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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