Heron Therapeutics (NASDAQ:HRTX) Issues Quarterly Earnings Results

by · The Cerbat Gem

Heron Therapeutics (NASDAQ:HRTX – Get Free Report) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03), Zacks reports. The firm had revenue of $38.21 million for the quarter, compared to analysts’ expectations of $39.03 million. Heron Therapeutics updated its FY 2025 guidance to EPS.

Heron Therapeutics Trading Down 2.3%

NASDAQ:HRTX traded down $0.03 during trading hours on Thursday, hitting $1.09. The stock had a trading volume of 648,353 shares, compared to its average volume of 1,687,014. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $2.68. The company has a market cap of $198.90 million, a PE ratio of -54.25 and a beta of 1.30. The business has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $1.70.

Insiders Place Their Bets

In other Heron Therapeutics news, Director Adam Morgan acquired 1,766,546 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $1.50 per share, with a total value of $2,649,819.00. Following the completion of the acquisition, the director directly owned 8,753,290 shares in the company, valued at $13,129,935. This trade represents a 25.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Rubric Capital Management Lp acquired 2,387,225 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $1.50 per share, with a total value of $3,580,837.50. Following the acquisition, the insider owned 29,100,728 shares of the company’s stock, valued at $43,651,092. This trade represents a 8.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 5.86% of the company’s stock.

Institutional Investors Weigh In On Heron Therapeutics

A number of hedge funds have recently added to or reduced their stakes in HRTX. B. Riley Wealth Advisors Inc. bought a new stake in Heron Therapeutics in the second quarter valued at $26,000. Russell Investments Group Ltd. bought a new stake in Heron Therapeutics in the second quarter valued at $43,000. Prudential Financial Inc. lifted its stake in Heron Therapeutics by 231.0% in the second quarter. Prudential Financial Inc. now owns 36,465 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 25,450 shares during the last quarter. Captrust Financial Advisors bought a new stake in Heron Therapeutics in the second quarter valued at $99,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Heron Therapeutics by 19.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,756 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 13,544 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Zacks Research raised shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Wall Street Zen downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Heron Therapeutics in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reduced their target price on shares of Heron Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.

Read Our Latest Analysis on Heron Therapeutics

About Heron Therapeutics

(Get Free Report)

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. 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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