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

Key Points

• Heron Therapeutics reported quarterly earnings of ($0.02) EPS, missing the consensus estimate of ($0.01) by $0.01, and generated $37.20 million in revenue, below the expected $38.08 million.
• The company's stock plummeted by 28.3% following the earnings report, with current shares trading at $1.32.
• Goldman Sachs increased its stake in Heron Therapeutics by 57.0% during the first quarter, demonstrating significant institutional interest despite recent stock price declines.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) announced its quarterly earnings results on Friday. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports. The firm had revenue of $37.20 million during the quarter, compared to analyst estimates of $38.08 million. Heron Therapeutics updated its FY 2025 guidance to EPS.

Heron Therapeutics Stock Down 28.3%

Shares of Heron Therapeutics stock opened at $1.32 on Friday. Heron Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $2.68. The firm has a market cap of $201.38 million, a PE ratio of -66.00 and a beta of 1.15. The business's fifty day moving average is $2.00 and its two-hundred day moving average is $2.01.

Analyst Ratings Changes

HRTX has been the topic of several research analyst reports. Needham & Company LLC decreased their price target on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday. Wall Street Zen lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, HC Wainwright started coverage on Heron Therapeutics in a research note on Monday, June 9th. They issued a "buy" rating and a $6.00 target price on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Heron Therapeutics stock. Goldman Sachs Group Inc. lifted its position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 57.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,028,678 shares of the biotechnology company's stock after buying an additional 373,518 shares during the period. Goldman Sachs Group Inc. owned approximately 0.67% of Heron Therapeutics worth $2,263,000 as of its most recent SEC filing. 80.01% of the stock is currently owned by institutional investors.

About Heron Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.