Heron Therapeutics Up 60.57% To $0.87 After Earnings Beat

Heron Therapeutics Inc (HRTX) reported better than expected earnings this afternoon for Q3 2023.

Heron Therapeutics's earnings came in at an EPS loss of $0.17 per share, 41.00% higher than estimates for an EPS loss of $0.29 per share. The firm's loss per share narrowed by 55% since reporting a loss of $0.38 per share a year ago.

Revenues were downbeat at $31.4 million. That is an increase of 18.36% in revenues from the year-ago report and is 4.02% lower than consensus estimates set at $32.8 million.

The stock is up 60.57% to $0.87 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.

Trading in the five days leading up to the report earned Heron Therapeutics a Bearish Sentiment Rank from InvestorsObserver.

Heron Therapeutics has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 5, putting Heron Therapeutics in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.5 on November 9, 2023 and set a 52-week high on November 15, 2022 at $3.49.

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.