HRTX
Heron Therapeutics, Inc.
There isn't enough reported data to score HRTX yet.
NVO
Novo Nordisk A/S
NVO's fundamentals are mixed: it turned 15% of its revenue into free cash flow, but its operating margin fell 3 points to 43%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
HRTX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Strong |
HRTX's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow are under pressure.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
HRTX PE Valuation
HRTX has no meaningful PE right now: it lost money over the past year.
NVO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $40.65 | — |
| Cheap | 14x | $53.56 | +32% |
| Fair | 27x | $103 | +154% |
| Expensive | 39x | $152 | +273% |
Historical ranges are pointers, not guarantees.
NVO's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
HRTX Forward outlook
There aren't enough analyst estimates for HRTX to show an outlook.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect NVO's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
HRTX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.11 | -$0.02 |
| Q2 2026 | -$0.18 | -$0.16 |
| Q1 2026 | -$0.17 | -$0.11 |
| Q4 2025 | -$0.12 | -$0.03 |
| Q3 2025 | -$0.09 | +$0.09 |
| Q2 2025 | -$0.02 | +$0.30 |
| Q1 2025 | -$0.06 | +$0.55 |
| Q4 2024 | -$0.09 | +$0.77 |
HRTX is still losing money, but far less than before: $0.11 per share over the past year, against $2.52 at its worst in mid-2021.
NVO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.89 | +4.9% |
| Q1 2026 | $4.07 | +17% |
| Q4 2025 | $3.42 | +1.8% |
| Q3 2025 | $3.47 | +10% |
| Q2 2025 | $3.71 | +24% |
| Q1 2025 | $3.49 | +18% |
| Q4 2024 | $3.36 | +21% |
| Q3 2024 | $3.15 | +27% |
NVO has the edge over HRTX on earnings quality, reporting a profit while its opponent remains loss making.
HRTX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $35.3M | -7.8% |
| Q2 2026 | $37.7M | +1.3% |
| Q1 2026 | $34.7M | -11% |
| Q4 2025 | $40.6M | -0.5% |
| Q3 2025 | $38.2M | +16% |
| Q2 2025 | $37.2M | +3.3% |
| Q1 2025 | $38.9M | +12% |
| Q4 2024 | $40.8M | +19% |
HRTX's revenue is shrinking: $35M last quarter, down 7.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -4.7% | +6 points |
| Q2 2026 | -5.4% | -1 points |
| Q1 2026 | -14% | -22 points |
| Q4 2025 | 0.1% | -10 points |
| Q3 2025 | -11% | +2.9 points |
| Q2 2025 | -4.4% | +14 points |
| Q1 2025 | 8.1% | +22 points |
| Q4 2024 | 10% | +40 points |
HRTX's operating margin was −4.7% last quarter, up 6 points from the same quarter a year ago.
NVO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $11.7B | +2.1% |
| Q1 2026 | $14.4B | +24% |
| Q4 2025 | $11.8B | -7.6% |
| Q3 2025 | $11.1B | +5.1% |
| Q2 2025 | $11.4B | +13% |
| Q1 2025 | $11.6B | +19% |
| Q4 2024 | $12.7B | +30% |
| Q3 2024 | $10.6B | +21% |
NVO has the edge over HRTX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -9 points |
| Q1 2026 | 62% | +12 points |
| Q4 2025 | 40% | -2.8 points |
| Q3 2025 | 32% | -16 points |
| Q2 2025 | 44% | +5.4 points |
| Q1 2025 | 50% | +1 points |
| Q4 2024 | 43% | +2.2 points |
| Q3 2024 | 47% | +1.6 points |
NVO has the edge over HRTX on profitability, with a higher operating margin.
HRTX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$896K | -167% |
| Q2 2026 | -$2.4M | +$8.7M |
| Q1 2026 | -$1.9M | +$7M |
| Q4 2025 | -$9.2M | +$3.2M |
| Q3 2025 | $1.3M | -55% |
| Q4 2024 | -$12.4M | -663% |
| Q3 2024 | $2.9M | +$12.9M |
| Q4 2023 | $2.2M | +$40.2M |
HRTX has burned cash in almost every quarter: −$14M over the past year, against −$31M the year before.
NVO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.3B | +73% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | -$5.4B | -$4.7B |
| Q3 2025 | $4.6B | -2.1% |
| Q2 2025 | $3.6B | -34% |
| Q1 2025 | $1.5B | +89% |
| Q4 2024 | -$632.6M | +$390.5M |
| Q3 2024 | $4.7B | +3.3% |
NVO has the edge over HRTX on cash generation, producing positive trailing cash flow while its opponent burns cash.
HRTX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +584K shares |
| 1 year | +12% | +20.6M shares |
| 3 years | +32% | +45.9M shares |
| 5 years | +94% | +92.5M shares |
| Available history | +133% | +109M shares |
HRTX has 191M diluted shares, up 12% from a year ago.
NVO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -12.9M shares |
| 1 year | -0.2% | -11M shares |
| 3 years | -1.5% | -66.8M shares |
| 5 years | -3.8% | -177M shares |
| Available history | -6.5% | -311M shares |
NVO has the edge over HRTX on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $520M |
| Q1 2026 | $356.7M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $206.3M |
| Q4 2024 | $1.1B |
| Q3 2024 | $357.4M |
NVO spent $877M buying back its own shares over the past year, down 48% from the year before.
HRTX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -2.8x | Net Cash |
| Q2 2025 | 37.5x | High |
HRTX has more cash than debt.
NVO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | -0.0x | Very low |
NVO's net debt is less than a year of its operating earnings (EBITDA).
HRTX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.9 | Neutral |
| Stochastic | 18.9 | Oversold |
HRTX's weekly RSI is 38 (neutral) and its Stochastic is 19 (oversold).
NVO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 27.0 | Neutral |
NVO's weekly RSI is 43 (neutral) and its Stochastic is 27 (neutral).
HRTX PE vs Healthcare Sector
HRTX has no meaningful PE right now: it lost money over the past year.
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO is trading at 10x earnings, a 60% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
HRTX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.33 | 0% above |
| 20 week MA | $0.37 | 11% below |
| 50 week MA | $0.76 | 57% below |
| 100 week MA | $1.24 | 73% below |
| 200 week MA | $1.64 | 80% below |
HRTX is in a downtrend: it's below all five of its weekly moving averages, and 80% below its 200-week average.
NVO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.2 | 3.7% above |
| 20 week MA | $43.9 | 7.4% below |
| 50 week MA | $45.3 | 10% below |
| 100 week MA | $56.3 | 28% below |
| 200 week MA | $80.7 | 50% below |
NVO has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
HRTX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.1 | $20.7 | -14% |
| 2021 | $20.7 | $10.2 | -51% |
| 2022 | $10.2 | $2.57 | -75% |
| 2023 | $2.57 | $1.70 | -34% |
| 2024 | $1.70 | $1.55 | -8.8% |
| 2025 | $1.55 | $1.28 | -17% |
| 2026 YTD | $1.28 | $0.33 | -74% |
HRTX has finished every year since 2020 lower, and it's down 74% so far in 2026.
NVO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $34.7 | +19% |
| 2021 | $34.7 | $54.2 | +56% |
| 2022 | $54.2 | $67.0 | +24% |
| 2023 | $67.0 | $103.5 | +54% |
| 2024 | $103.5 | $87.4 | -16% |
| 2025 | $87.4 | $52.4 | -40% |
| 2026 YTD | $52.4 | $40.7 | -22% |
NVO has the edge over HRTX on returns for 2026, with the stronger performance.