Research Analysts Issue Forecasts for Heron Therapeutics Inc.’s FY2016 Earnings (HRTX)
Heron Therapeutics Inc. (NASDAQ:HRTX) – Stock analysts at Leerink Swann dropped their FY2016 earnings estimates for shares of Heron Therapeutics in a note issued to investors on Thursday. Leerink Swann analyst J. Gerberry now anticipates that the brokerage will post earnings of ($4.06) per share for the year, down from their prior forecast of ($4.01). Leerink Swann currently has a “Buy” rating and a $34.00 price target on the stock. Leerink Swann also issued estimates for Heron Therapeutics’ Q4 2016 earnings at ($0.92) EPS, FY2017 earnings at ($2.31) EPS, FY2018 earnings at ($1.15) EPS, FY2019 earnings at $1.07 EPS and FY2020 earnings at $4.62 EPS.
Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by $0.21.
HRTX has been the topic of several other reports. Zacks Investment Research downgraded Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Jefferies Group reissued a “buy” rating and issued a $46.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, July 27th. Cantor Fitzgerald reissued a “buy” rating and issued a $38.00 price objective on shares of Heron Therapeutics in a research note on Tuesday, August 9th. Brean Capital reissued a “buy” rating and issued a $55.00 price objective on shares of Heron Therapeutics in a research note on Saturday, August 13th. Finally, Cowen and Company reissued a “buy” rating on shares of Heron Therapeutics in a research note on Saturday, July 9th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $42.29.
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Heron Therapeutics (NASDAQ:HRTX) opened at 16.83 on Monday. The stock has a 50 day moving average price of $18.62 and a 200 day moving average price of $18.90. Heron Therapeutics has a 1-year low of $15.13 and a 1-year high of $31.32.
In other Heron Therapeutics news, insider Robert Rosen sold 100,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total transaction of $2,330,000.00. Following the sale, the insider now owns 102,640 shares of the company’s stock, valued at approximately $2,391,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 20.31% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Heron Therapeutics by 8.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 111,768 shares of the biotechnology company’s stock valued at $2,018,000 after buying an additional 8,772 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Heron Therapeutics by 25.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,014 shares of the biotechnology company’s stock worth $470,000 after buying an additional 5,268 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Heron Therapeutics by 6.5% in the second quarter. Panagora Asset Management Inc. now owns 261,298 shares of the biotechnology company’s stock worth $4,716,000 after buying an additional 15,906 shares during the last quarter. Barclays PLC boosted its stake in Heron Therapeutics by 255.0% in the second quarter. Barclays PLC now owns 30,905 shares of the biotechnology company’s stock worth $558,000 after buying an additional 22,199 shares during the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new stake in Heron Therapeutics during the second quarter worth $213,000.
About Heron Therapeutics
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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