Jefferies Financial Group Brokers Cut Earnings Estimates for Heron Therapeutics, Inc. (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTXGet Rating) – Stock analysts at Jefferies Financial Group cut their FY2022 EPS estimates for shares of Heron Therapeutics in a research note issued to investors on Tuesday, November 8th. Jefferies Financial Group analyst K. Shi now forecasts that the biotechnology company will post earnings per share of ($1.67) for the year, down from their prior forecast of ($1.60). The consensus estimate for Heron Therapeutics’ current full-year earnings is ($1.77) per share. Jefferies Financial Group also issued estimates for Heron Therapeutics’ FY2023 earnings at ($0.91) EPS, FY2024 earnings at ($0.43) EPS, FY2025 earnings at ($0.06) EPS and FY2026 earnings at $0.27 EPS.

Heron Therapeutics (NASDAQ:HRTXGet Rating) last issued its earnings results on Tuesday, August 9th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.05). The company had revenue of $27.63 million during the quarter, compared to analysts’ expectations of $24.65 million. Heron Therapeutics had a negative return on equity of 815.12% and a negative net margin of 220.55%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.62) EPS.

Other research analysts have also recently issued reports about the company. Cowen dropped their target price on Heron Therapeutics to $5.50 in a research report on Monday, August 15th. Needham & Company LLC dropped their price objective on shares of Heron Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, cut shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday.

Heron Therapeutics Stock Performance

HRTX stock opened at $3.44 on Friday. The company has a debt-to-equity ratio of 6.22, a current ratio of 1.77 and a quick ratio of 1.21. Heron Therapeutics has a 1 year low of $2.19 and a 1 year high of $11.53. The company has a market cap of $408.97 million, a P/E ratio of -1.64 and a beta of 0.99. The stock’s fifty day moving average price is $4.06 and its 200-day moving average price is $3.71.

Institutional Trading of Heron Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zullo Investment Group Inc. raised its position 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 purchasing an additional 3,000 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Heron Therapeutics in the first quarter worth about $48,000. Bridgefront Capital LLC purchased a new stake in shares of Heron Therapeutics during the first quarter worth about $60,000. Engineers Gate Manager LP bought a new stake in Heron Therapeutics during the 1st quarter valued at approximately $73,000. Finally, Grimes & Company Inc. lifted its holdings in Heron Therapeutics by 30.9% in the 1st quarter. Grimes & Company Inc. now owns 15,088 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 3,561 shares in the last quarter.

About Heron Therapeutics

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

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