Heron Therapeutics (NASDAQ:HRTX) Announces Quarterly Earnings Results

Heron Therapeutics (NASDAQ:HRTX) released its earnings results on Tuesday. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03), Zacks reports. Heron Therapeutics updated its FY 2025 guidance to EPS.

Heron Therapeutics Stock Performance

HRTX traded up $0.01 on Tuesday, hitting $1.19. 2,117,571 shares of the company were exchanged, compared to its average volume of 1,673,295. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $2.68. The company has a market cap of $217.23 million, a PE ratio of -59.25 and a beta of 1.25. The stock’s fifty day moving average is $1.28 and its 200-day moving average is $1.70.

Insider Activity

In other Heron Therapeutics news, major shareholder Rubric Capital Management Lp purchased 2,387,225 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $1.50 per share, with a total value of $3,580,837.50. Following the completion of the transaction, the insider directly owned 29,100,728 shares in the company, valued at $43,651,092. This represents a 8.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Morgan purchased 1,766,546 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $1.50 per share, for a total transaction of $2,649,819.00. Following the transaction, the director owned 8,753,290 shares of the company’s stock, valued at approximately $13,129,935. The trade was a 25.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 5.86% of the company’s stock.

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors have recently made changes to their positions in HRTX. Marshall Wace LLP boosted its stake in shares of Heron Therapeutics by 130.7% in the second quarter. Marshall Wace LLP now owns 2,894,072 shares of the biotechnology company’s stock valued at $5,991,000 after buying an additional 1,639,376 shares during the period. Goldman Sachs Group Inc. lifted its stake in Heron Therapeutics by 57.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,028,678 shares of the biotechnology company’s stock worth $2,263,000 after purchasing an additional 373,518 shares during the last quarter. Walleye Capital LLC bought a new stake in Heron Therapeutics during the second quarter worth $621,000. JPMorgan Chase & Co. lifted its stake in Heron Therapeutics by 36.8% during the second quarter. JPMorgan Chase & Co. now owns 953,080 shares of the biotechnology company’s stock worth $1,973,000 after purchasing an additional 256,637 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Heron Therapeutics during the second quarter worth $275,000. 80.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research raised Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen cut Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC decreased their price objective on Heron Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Heron Therapeutics currently has an average rating of “Hold” and an average price target of $4.50.

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.