Heron Therapeutics (NASDAQ:HRTX) Releases Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Heron Therapeutics missed Q1 expectations, reporting EPS of -$0.04 versus the -$0.03 consensus and revenue of $34.71 million, below analysts’ estimate of $36.72 million.
• Core products showed momentum, with acute care revenue up 32% year over year, ZYNRELEF demand units rising 22%, and APONVIE demand units surging 68% amid commercial wins like a permanent J-Code and guideline inclusion.
• Management kept full-year guidance intact despite margin pressure from higher-cost supply batches, reaffirming 2026 sales guidance of $173 million to $183 million and adjusted EBITDA of $10 million to $20 million.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) issued its earnings results on Monday. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01), FiscalAI reports. The firm had revenue of $34.71 million during the quarter, compared to analyst estimates of $36.72 million.

Here are the key takeaways from Heron Therapeutics' conference call:

• Net product sales were $34.7 million in Q1, modestly below plan after seasonal co-pay resets and two weeks of severe weather that sharply reduced elective surgeries; management notes March recovered to >$15M and expects rescheduled procedures to provide a tailwind through 2026.
• Acute care momentum — acute revenue grew 32% YoY with ZYNRELEF up 27% and APONVIE >50%; ZYNRELEF demand units rose 22% YoY and Ignite 2.0 expanded targeted accounts by 38%, supporting a planned Q3 salesforce expansion.
• APONVIE commercial and clinical catalysts — demand units grew 68% YoY, ordering accounts hit an all‑time high, a permanent J‑Code became active April 1, and APONVIE received an A1 evidence rating and prominent inclusion in the 5th consensus PONV guidelines.
• CINVANTI stability — maintained a ~25% NK1 market share and consistent ordering patterns despite competition, with the REIGNITE program and aprepitant salesforce expansion expected to add roughly $10M of annualized revenue from new accounts.
• Margin and temporary supply cost pressure — growth margin dipped to 69% and adjusted EBITDA was negative $0.7M due in part to higher-cost batches from a secondary CINVANTI supplier; the company expects this to work through over the next two quarters and has reaffirmed full‑year guidance of $173–183M sales and $10–20M adjusted EBITDA.

Heron Therapeutics Stock Down 23.1%

NASDAQ HRTX traded down $0.28 on Monday, reaching $0.93. The company had a trading volume of 5,246,648 shares, compared to its average volume of 1,928,451. The firm has a market capitalization of $175.62 million, a PE ratio of -7.16 and a beta of 1.70. Heron Therapeutics has a 1 year low of $0.74 and a 1 year high of $2.30. The firm has a 50-day moving average of $0.97 and a 200-day moving average of $1.16. The company has a debt-to-equity ratio of 10.59, a current ratio of 2.48 and a quick ratio of 1.51.

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of HRTX. Advisory Services Network LLC boosted its holdings in Heron Therapeutics by 2,383.4% in the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 18,114 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Heron Therapeutics during the 2nd quarter valued at approximately $26,000. Voleon Capital Management LP purchased a new position in shares of Heron Therapeutics during the 3rd quarter valued at approximately $34,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Heron Therapeutics during the 3rd quarter valued at approximately $34,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Heron Therapeutics during the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HRTX. Weiss Ratings reiterated a "sell (e+)" rating on shares of Heron Therapeutics in a report on Tuesday, April 21st. Zacks Research cut Heron Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.50.

About Heron Therapeutics

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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