Heron Therapeutics Down 8.96% To $1.88 After Earnings Beat

Heron Therapeutics Inc (HRTX) beat out earnings estimates for Q4 2022 this afternoon.

Analyst expectations for Heron Therapeutics earnings per share (EPS) were at a loss of $0.28 per share, with the company surpassing those estimates with a reported EPS loss of $0.17 per share, leading to a positive surprise of $0.11 per share (39%). Heron Therapeutics's earnings rose 69% year-over-year as the firm reported an EPS loss of $0.54 per share in its year-ago quarter. The positive annual growth shows the Healthcare company is performing well amid recent economic conditions.

Revenues were upbeat at $30 million. That is an increase of 45.38% in revenues from the year-ago report and is 11.63% higher than consensus estimates set at $26.9 million.

The stock is down 8.96% to $1.88 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 32. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Heron Therapeutics Inc is a commercial-stage biotechnology company. It is focused on improving the lives of patients by developing treatments that address some of the unmet patient needs. The company's product portfolio consists of SUSTOL, ZYNRELEF, and CINVANTI. Its pipeline product is HTX-011.