Heron Therapeutics (NASDAQ:HRTX) Releases Earnings Results

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) released its earnings results on Friday. The biotechnology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports. The business had revenue of $37.20 million during the quarter, compared to analysts' expectations of $38.08 million. Heron Therapeutics updated its FY 2025 guidance to EPS.

Heron Therapeutics Trading Down 3.6%

NASDAQ HRTX traded down $0.05 during trading hours on Thursday, hitting $1.35. The company's stock had a trading volume of 1,515,768 shares, compared to its average volume of 2,086,702. The company has a market capitalization of $206.94 million, a PE ratio of -67.50 and a beta of 1.15. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $2.68. The company's 50-day simple moving average is $1.94 and its two-hundred day simple moving average is $2.00.

Analyst Ratings Changes

Several brokerages have recently issued reports on HRTX. HC Wainwright started coverage on shares of Heron Therapeutics in a report on Monday, June 9th. They set a "buy" rating and a $6.00 price target for the company. Needham & Company LLC decreased their price target on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp purchased 2,387,225 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $1.50 per share, for a total transaction of $3,580,837.50. Following the purchase, the insider directly owned 29,100,728 shares in the company, valued at approximately $43,651,092. This trade represents a 8.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Morgan purchased 1,766,546 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $1.50 per share, with a total value of $2,649,819.00. Following the purchase, the director owned 8,753,290 shares in the company, valued at $13,129,935. The trade was a 25.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.86% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HRTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Heron Therapeutics by 19.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,756 shares of the biotechnology company's stock valued at $173,000 after purchasing an additional 13,544 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Heron Therapeutics by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company's stock worth $499,000 after purchasing an additional 11,716 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Heron Therapeutics in the second quarter worth $275,000. Marshall Wace LLP lifted its stake in Heron Therapeutics by 130.7% in the second quarter. Marshall Wace LLP now owns 2,894,072 shares of the biotechnology company's stock worth $5,991,000 after purchasing an additional 1,639,376 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Heron Therapeutics in the second quarter valued at about $621,000. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Heron Therapeutics Company Profile

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.