In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Heron Therapeutics (NASDAQ: HRTX), with a price target of $40. The company’s shares opened today at $39, close to its 52-week high of $40.10.
Chen noted:
“We expect upward earnings revisions to levels not reflected in FactSet consensus expectations to drive HRTX shares higher. Upside to earnings could be driven by Sustol, Cinvanti, and HTX-011. Section may be found on pages 4 – 5.We use a blend of DCF and multiples (EV/EBITDA) analysis to reach our 12- month price target of $40.”
According to TipRanks.com, Chen is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.2% and a 44.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.
Heron Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $43.50.
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Based on Heron Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $52.27 million. In comparison, last year the company had a GAAP net loss of $50.33 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HRTX in relation to earlier this year.
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Heron Therapeutics, Inc. is a biotechnology company, which develops pharmaceutical products for patients suffering from cancer. The company develops products by using its proprietary Biochronomer polymer based drug delivery technology. Its products include SUSTOL, Pipeline, Cinvanti and HTX-011.
