Oppenheimer Weighs in on Heron Therapeutics Inc’s FY2020 Earnings (HRTX)
Heron Therapeutics Inc (NASDAQ:HRTX) – Equities research analysts at Oppenheimer cut their FY2020 EPS estimates for shares of Heron Therapeutics in a report released on Thursday. Oppenheimer analyst D. Archila now forecasts that the biotechnology company will post earnings of $1.32 per share for the year, down from their previous estimate of $1.45. Oppenheimer currently has a “Buy” rating and a $27.00 target price on the stock. Oppenheimer also issued estimates for Heron Therapeutics’ FY2021 earnings at $2.98 EPS.
HRTX has been the subject of a number of other research reports. Mizuho reiterated a “buy” rating and set a $28.00 target price on shares of Heron Therapeutics in a research note on Tuesday, November 7th. Cantor Fitzgerald set a $31.00 target price on shares of Heron Therapeutics and gave the stock a “buy” rating in a research note on Friday, October 20th. Cowen reiterated a “buy” rating and set a $40.00 target price on shares of Heron Therapeutics in a research note on Monday, November 6th. BidaskClub upgraded shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research upgraded shares of Heron Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $28.73.
Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Monday, November 6th. The biotechnology company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.10. The firm had revenue of $8.57 million during the quarter, compared to the consensus estimate of $8.12 million. Heron Therapeutics had a negative net margin of 831.89% and a negative return on equity of 385.11%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRTX. Legal & General Group Plc boosted its stake in Heron Therapeutics by 13.9% in the first quarter. Legal & General Group Plc now owns 8,971 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,098 shares in the last quarter. Quantbot Technologies LP boosted its stake in Heron Therapeutics by 2,619.6% in the second quarter. Quantbot Technologies LP now owns 12,483 shares of the biotechnology company’s stock valued at $172,000 after acquiring an additional 12,024 shares in the last quarter. Trexquant Investment LP acquired a new position in Heron Therapeutics in the third quarter valued at $206,000. Jane Street Group LLC acquired a new position in Heron Therapeutics in the third quarter valued at $223,000. Finally, HighTower Advisors LLC boosted its stake in Heron Therapeutics by 11.4% in the second quarter. HighTower Advisors LLC now owns 16,584 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 1,700 shares in the last quarter.
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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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