In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Buy rating on Heron Therapeutics (HRTX), with a price target of $50. The company’s shares opened today at $26.
Folkes said:
“We expect upward earnings revisions, along with an approval of HTX-011, to drive HRTX shares higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to reach our 12-month price target of $50. The Disclosure Section may be found on pages 3 – 4.Valuation We use a blend of DCF and multiples (EV/EBITDA) analysis to reach our 12-month price target of $50.”
According to TipRanks.com, Folkes is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.0% and a 31.3% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Heron Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $55.80, an 114.6% upside from current levels. In a report issued on December 31, Needham also reiterated a Buy rating on the stock with a $66 price target.
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The company has a one-year high of $42.90 and a one-year low of $17.90. Currently, Heron Therapeutics has an average volume of 960.3K.
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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.
