Heron Therapeutics (NASDAQ:HRTX) Issues Earnings Results

Key Points

• Heron Therapeutics reported a quarterly loss of $0.03 per share, while revenue reached $37.67 million, below analyst expectations of $42.19 million. The company posted a negative net margin of 20.53%.
• HRTX shares opened at $0.49, with a market capitalization of approximately $92.9 million and a 52-week trading range of $0.38 to $1.57.
• Institutional investors own 80.01% of the company, while analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $2.00.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) announced its quarterly earnings results on Monday. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, FiscalAI reports. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. The company had revenue of $37.67 million during the quarter, compared to analyst estimates of $42.19 million.

Heron Therapeutics Price Performance

Shares of HRTX stock opened at $0.49 on Monday. The firm has a fifty day moving average of $0.45 and a two-hundred day moving average of $0.84. The firm has a market cap of $92.90 million, a P/E ratio of -2.73 and a beta of 1.65. Heron Therapeutics has a 1-year low of $0.38 and a 1-year high of $1.57. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51.

Hedge Funds Weigh In On Heron Therapeutics

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in Heron Therapeutics by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,028,678 shares of the biotechnology company's stock valued at $2,263,000 after buying an additional 373,518 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Heron Therapeutics by 36.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 953,080 shares of the biotechnology company's stock worth $1,973,000 after acquiring an additional 256,637 shares in the last quarter. Rhumbline Advisers grew its position in shares of Heron Therapeutics by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 222,438 shares of the biotechnology company's stock worth $460,000 after acquiring an additional 50,344 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Heron Therapeutics by 231.0% in the 2nd quarter. Prudential Financial Inc. now owns 36,465 shares of the biotechnology company's stock valued at $75,000 after acquiring an additional 25,450 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Heron Therapeutics in the 2nd quarter valued at approximately $43,000. Institutional investors own 80.01% of the company's stock.

Analysts Set New Price Targets

HRTX has been the subject of several analyst reports. HC Wainwright decreased their target price on Heron Therapeutics to $2.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Zacks Research raised shares of Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Heron Therapeutics in a research note on Friday, July 17th. Needham & Company LLC cut shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of Heron Therapeutics to a "sell" rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.00.

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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