Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Heron Therapeutics (NASDAQ: HRTX) today and set a price target of $50. The company’s shares opened today at $32.70.
Chen commented:
“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. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to reach our 12-month price target of $50.”
According to TipRanks.com, Chen is a 2-star analyst with an average return of 0.2% and a 39.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Heron Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $50.
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Based on Heron Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $38.67 million. In comparison, last year the company had a GAAP net loss of $42.8 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Barry Quart, the CEO of HRTX bought 19,675 shares for a total of $141,660.
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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.
