Heron Therapeutics (NASDAQ:HRTX) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

by · The Markets Daily

Heron Therapeutics (NASDAQ:HRTX – Get Free Report) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01, FiscalAI reports. The company had revenue of $40.59 million for the quarter, compared to analyst estimates of $39.53 million.

Here are the key takeaways from Heron Therapeutics’ conference call:

  • Heron completed a refinancing in 2025 that management called a meaningful de‑risking of the capital structure, giving the company financial flexibility to focus on commercial execution and growth.
  • Full‑year 2025 net product sales were about $155 million with adjusted EBITDA of $14.7 million (above guidance) and management guided 2026 net sales of $173M–$183M and adjusted EBITDA of $10M–$20M while remaining EBITDA‑positive.
  • Acute care showed clear momentum—Q4 ZYNRELEF net revenue +48% YoY and APONVIE +97% YoY—supported by the CrossLink Ignite distributor program, the VAN rollout, permanent J‑codes, and ongoing development of a ZYNRELEF prefilled syringe (stability testing started; potential approval mid–late 2027).
  • Management plans to increase targeted commercial investments and add field capacity in 2026, which they expect could temporarily moderate EBITDA growth despite aiming to accelerate long‑term revenue.
  • CINVANTI is subject to ongoing Hatch‑Waxman litigation (Slayback) in the District of Delaware with oral argument pending and a decision expected before the 30‑month stay, leaving legal risk and timing uncertainty for the oncology franchise.

Heron Therapeutics Trading Up 11.1%

Shares of NASDAQ HRTX traded up $0.12 during mid-day trading on Thursday, hitting $1.20. 8,343,231 shares of the company traded hands, compared to its average volume of 1,219,983. Heron Therapeutics has a 1 year low of $1.00 and a 1 year high of $2.68. The stock has a market capitalization of $220.03 million, a price-to-earnings ratio of -13.33 and a beta of 1.25. The company has a quick ratio of 1.78, a current ratio of 2.56 and a debt-to-equity ratio of 19.89. The business has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.27.

Institutional Trading of Heron Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its stake in Heron Therapeutics by 33.0% in the 4th quarter. Invesco Ltd. now owns 307,861 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 76,466 shares during the period. XTX Topco Ltd grew its holdings in shares of Heron Therapeutics by 687.6% during the 4th quarter. XTX Topco Ltd now owns 240,197 shares of the biotechnology company’s stock valued at $312,000 after acquiring an additional 209,700 shares in the last quarter. Tang Capital Management LLC increased its stake in shares of Heron Therapeutics by 81.2% in the fourth quarter. Tang Capital Management LLC now owns 6,250,000 shares of the biotechnology company’s stock worth $8,125,000 after acquiring an additional 2,800,000 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Heron Therapeutics during the fourth quarter worth $296,000. Finally, Millennium Management LLC raised its holdings in shares of Heron Therapeutics by 2,785.2% during the fourth quarter. Millennium Management LLC now owns 7,169,908 shares of the biotechnology company’s stock worth $9,321,000 after acquiring an additional 6,921,405 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HRTX shares. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Heron Therapeutics in a research report on Friday, January 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Heron Therapeutics in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Heron Therapeutics currently has a consensus rating of “Hold” and an average price target of $4.50.

View Our Latest Report on HRTX

About Heron Therapeutics

(Get Free Report)

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.

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