Zacks: Analysts Anticipate Heron Therapeutics, Inc. (HRTX) Will Post Quarterly Sales of $4.53 Million
Brokerages expect that Heron Therapeutics, Inc. (NASDAQ:HRTX) will report $4.53 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Heron Therapeutics’ earnings. The lowest sales estimate is $4.36 million and the highest is $4.70 million. The firm is expected to announce its next quarterly earnings report on Monday, August 14th.
On average, analysts expect that Heron Therapeutics will report full year sales of $4.53 million for the current year, with estimates ranging from $21.02 million to $22.90 million. For the next fiscal year, analysts expect that the firm will post sales of $83.90 million per share. Zacks’ sales averages are an average based on a survey of analysts that follow Heron Therapeutics.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Wednesday, May 10th. The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.94) by $0.06. The company had revenue of $3.63 million for the quarter, compared to the consensus estimate of $1.96 million.
Several equities analysts have issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Heron Therapeutics in a research note on Friday, July 14th. Zacks Investment Research lowered Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. Noble Financial reiterated a “buy” rating on shares of Heron Therapeutics in a research note on Friday, May 12th. Aegis restated a “buy” rating and set a $33.00 price target on shares of Heron Therapeutics in a research note on Tuesday. Finally, ValuEngine upgraded Heron Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $31.00.
Shares of Heron Therapeutics (NASDAQ HRTX) traded up 3.061% during trading on Thursday, reaching $17.675. 703,961 shares of the company were exchanged. Heron Therapeutics has a 1-year low of $12.21 and a 1-year high of $24.00. The firm’s 50 day moving average is $14.34 and its 200 day moving average is $14.21.
In other Heron Therapeutics news, VP Kimberly Manhard sold 21,542 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $15.33, for a total value of $330,238.86. Following the completion of the transaction, the vice president now directly owns 5,250 shares of the company’s stock, valued at $80,482.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in HRTX. Swiss National Bank boosted its stake in Heron Therapeutics by 39.9% in the first quarter. Swiss National Bank now owns 72,600 shares of the biotechnology company’s stock worth $1,089,000 after buying an additional 20,700 shares during the period. Bank of New York Mellon Corp boosted its stake in Heron Therapeutics by 27.1% in the first quarter. Bank of New York Mellon Corp now owns 190,771 shares of the biotechnology company’s stock worth $2,861,000 after buying an additional 40,657 shares during the period. Falcon Point Capital LLC acquired a new stake in Heron Therapeutics during the first quarter worth approximately $501,000. Searle & CO. acquired a new stake in Heron Therapeutics during the first quarter worth approximately $353,000. Finally, Wells Fargo & Company MN boosted its stake in Heron Therapeutics by 78.8% in the first quarter. Wells Fargo & Company MN now owns 39,579 shares of the biotechnology company’s stock worth $595,000 after buying an additional 17,442 shares during the period.
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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