Analysts Set Expectations for Heron Therapeutics Inc.’s Q3 2016 Earnings (HRTX)
Heron Therapeutics Inc. (NASDAQ:HRTX) – Research analysts at Jefferies Group issued their Q3 2016 earnings per share (EPS) estimates for Heron Therapeutics in a research report issued on Monday. Jefferies Group analyst B. Amin forecasts that the brokerage will post earnings per share of ($1.01) for the quarter. Jefferies Group currently has a “Buy” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Heron Therapeutics’ Q4 2016 earnings at ($0.86) EPS, FY2016 earnings at ($3.95) EPS, FY2017 earnings at ($2.86) EPS, FY2018 earnings at ($0.14) EPS, FY2019 earnings at $2.21 EPS and FY2020 earnings at $4.46 EPS.
Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Monday, August 8th. The biotechnology company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.21.
A number of other equities research analysts have also issued reports on the company. Brean Capital assumed coverage on Heron Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $41.00 target price on the stock. Leerink Swann reissued a “buy” rating and issued a $33.00 target price on shares of Heron Therapeutics in a research report on Sunday. JMP Securities restated a “buy” rating on shares of Heron Therapeutics in a research note on Friday, September 9th. Lake Street Capital restated a “buy” rating and issued a $45.00 price target on shares of Heron Therapeutics in a research note on Tuesday, September 6th. Finally, Zacks Investment Research upgraded Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $42.14.
Shares of Heron Therapeutics (NASDAQ:HRTX) traded up 9.45% on Wednesday, hitting $17.61. The stock had a trading volume of 417,520 shares. The stock’s 50-day moving average price is $18.97 and its 200 day moving average price is $18.92. Heron Therapeutics has a 52 week low of $15.13 and a 52 week high of $31.32.
A number of hedge funds have recently added to or reduced their stakes in HRTX. BlackRock Group LTD boosted its stake in Heron Therapeutics by 9.0% in the second quarter. BlackRock Group LTD now owns 10,816 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 897 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of Heron Therapeutics during the second quarter valued at $213,000. BlackRock Advisors LLC boosted its position in shares of Heron Therapeutics by 13.3% in the second quarter. BlackRock Advisors LLC now owns 15,104 shares of the biotechnology company’s stock valued at $273,000 after buying an additional 1,769 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Heron Therapeutics by 8.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,739 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 1,283 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Heron Therapeutics by 8.1% in the second quarter. American International Group Inc. now owns 18,293 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 1,369 shares in the last quarter.
In related news, insider Robert Rosen sold 100,000 shares of Heron Therapeutics stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total transaction of $2,330,000.00. Following the completion of the sale, the insider now directly owns 102,640 shares of the company’s stock, valued at approximately $2,391,512. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 20.31% of the company’s stock.
About Heron Therapeutics
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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