Heron Therapeutics Inc. (NASDAQ:HRTX) shares, rose in value on Thursday, 05/25/23, with the stock price down by -3.10% to the previous day’s close as strong demand from buyers drove the stock to $1.25.
Actively observing the price movement in the last trading, the stock closed the session at $1.29, falling within a range of $1.16 and $1.337. The value of beta (5-year monthly) was 0.92. Referring to stock’s 52-week performance, its high was $5.62, and the low was $1.07. On the whole, HRTX has fluctuated by -50.40% over the past month.
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With the market capitalization of Heron Therapeutics Inc. currently standing at about $138.18 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 07, 2023 – Aug 11, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.23, which is expected to increase to -$0.18 for fiscal year -$0.88 and then to about -$0.5 by fiscal year 2024. Data indicates that the EPS growth is expected to be 47.30% in 2024, while the next year’s EPS growth is forecast to be 43.20%.
Analysts have estimated the company’s revenue for the quarter at $31.7 million, with a low estimate of $28.5 million and a high estimate of $35 million. According to the average forecast, sales growth in current quarter could jump up 14.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $129.76 million, representing an increase of 20.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that HRTX’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HRTX currently trading nearly -34.38% and -41.00% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.11, while the 7-day volatility ratio is showing 12.17% which for the 30-day chart, stands at 12.15%. Furthermore, Heron Therapeutics Inc. (HRTX)’s beta value is 0.97, and its average true range (ATR) is 0.20. The company’s stock has been forecasted to trade at an average price of $7.92 over the course of the next 52 weeks, with a low of $5.50 and a high of $10.00. Based on these price targets, the low is -340.0% off current price, whereas the price has to move -700.0% to reach the yearly target high. Additionally, analysts’ median price of $8.00 is likely to be welcomed by investors because it represents a decrease of -540.0% from the current levels.
A comparison of Heron Therapeutics Inc. (HRTX) with its peers suggests the former has fared considerably weaker in the market. HRTX showed an intraday change of -3.10% in last session, and over the past year, it shrunk by -60.44%%. In comparison, Ligand Pharmaceuticals Incorporated (LGND) has moved lower at -3.90% on the day and was up 36.20% over the past 12 months. On the other hand, the price of Pacira BioSciences Inc. (PCRX) has fallen -1.97% on the day. The stock, however, is off -34.48% from where it was a year ago. Additionally, there is a gain of 0.34% for Surmodics Inc. (SRDX) in last trading while the stock has seen an overall depriciation of -52.02%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.88%. Meanwhile, the Dow Jones Industrial Slipped by -0.11%.
Data on historical trading for Heron Therapeutics Inc. (NASDAQ:HRTX) indicates that the trading volumes over the past 10 days have averaged 4.33 million and over the past 3 months, they’ve averaged 2.48 million. According to company’s latest data on outstanding shares, there are 119.25 million shares outstanding.
Nearly 0.20% of Heron Therapeutics Inc.’s shares belong to company insiders and institutional investors own 102.55% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 22.3 million shares as on Apr 27, 2023, resulting in a short ratio of 7.91. According to the data, the short interest in Heron Therapeutics Inc. (HRTX) stood at 18.70% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 23.15 million. The stock has fallen by -50.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HRTX stock heading into the next quarter.