Cantor Comments on Heron Therapeutics Inc (HRTX) As It Won FDA Approval
In a research report published Wednesday, Cantor analyst Chiara Russo reiterated a Buy rating on shares of Heron Therapeutics Inc (NASDAQ:HRTX) with a price target of $38, after the drug maker announced the approval of SUSTOL, the first and only 5-HT3 receptor antagonist FDA approved drug for acute and delayed chemotherapy-induced nausea and vomiting (CINV) in moderately emetogenic chemotherapy (MEC) or anthracycline and cyclophosphamide (AC) combination regimens.
Russo noted, “Though the label technically does not cover all HEC regimens, including cisplatin, we believe that it does offer meaningful differentiation. We are also comfortable with the launch metrics set by management and the targeted market segments. Given the reimbursement delay in the oncology Buy & Bill model, we maintain our assumption of 1Q:17 meaningful revenue.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chiara Russo has a yearly average return of 1.5% and a 55% success rate. Russo has a 8% average return when recommending HRTX, and is ranked #1655 out of 4110 analysts.
All the 8 analysts polled by TipRanks rate Heron Therapeutics Inc stock a Buy. With a return potential of 104.0%, the stock’s consensus target price stands at $42.71.
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