HC Wainwright Cuts Earnings Estimates for Heron Therapeutics

Key Points

• HC Wainwright cut its FY2027 EPS estimate for Heron to $0.12 (from $0.14) but maintained a "Buy" rating and a $6.00 price target, while projecting EPS of $0.36 (FY2028), $0.41 (FY2029) and $0.51 (FY2030).
• The consensus among analysts is a "Hold" with a $4.50 target; HRTX trades at roughly $1.00 with a market cap of about $188.6 million and a negative P/E of -7.69.
• Institutional investors have significantly increased stakes—large buys from Clearline, Millennium, Tang Capital and others leave institutions owning roughly 80% of the company.

Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) - Stock analysts at HC Wainwright reduced their FY2027 earnings per share estimates for shares of Heron Therapeutics in a report issued on Thursday, April 23rd. HC Wainwright analyst B. Folkes now anticipates that the biotechnology company will post earnings of $0.12 per share for the year, down from their previous estimate of $0.14. HC Wainwright currently has a "Buy" rating and a $6.00 target price on the stock. The consensus estimate for Heron Therapeutics' current full-year earnings is ($0.04) per share. HC Wainwright also issued estimates for Heron Therapeutics' FY2028 earnings at $0.36 EPS, FY2029 earnings at $0.41 EPS and FY2030 earnings at $0.51 EPS.

Other equities analysts have also recently issued reports about the stock. Zacks Research raised shares of Heron Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of Heron Therapeutics in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.50.

Heron Therapeutics Price Performance

HRTX stock opened at $1.00 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 10.59. The company has a market capitalization of $188.60 million, a P/E ratio of -7.69 and a beta of 1.42. The business has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $1.16. Heron Therapeutics has a twelve month low of $0.74 and a twelve month high of $2.61.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $40.59 million for the quarter, compared to analysts' expectations of $39.53 million.

Hedge Funds Weigh In On Heron Therapeutics

A number of large investors have recently made changes to their positions in the stock. Clearline Capital LP boosted its holdings in Heron Therapeutics by 1,033.1% during the third quarter. Clearline Capital LP now owns 9,712,527 shares of the biotechnology company's stock worth $12,238,000 after buying an additional 8,855,361 shares in the last quarter. Millennium Management LLC increased its holdings in Heron Therapeutics by 2,785.2% in the fourth quarter. Millennium Management LLC now owns 7,169,908 shares of the biotechnology company's stock valued at $9,321,000 after buying an additional 6,921,405 shares in the last quarter. Baker BROS. Advisors LP acquired a new stake in shares of Heron Therapeutics during the 3rd quarter valued at approximately $5,357,000. Tang Capital Management LLC lifted its position in shares of Heron Therapeutics by 81.2% during the 4th quarter. Tang Capital Management LLC now owns 6,250,000 shares of the biotechnology company's stock valued at $8,125,000 after acquiring an additional 2,800,000 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Heron Therapeutics by 4,666.9% during the 3rd quarter. Citigroup Inc. now owns 2,476,529 shares of the biotechnology company's stock worth $3,120,000 after acquiring an additional 2,424,576 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company's stock.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company's research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron's first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.

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