Cantor Fitzgerald Sticks to Their Buy Rating for Heron Therapeutics (HRTX)


In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on Heron Therapeutics (NASDAQ: HRTX), with a price target of $50. The company’s shares closed yesterday at $33.10.

Folkes commented:

“. We reiterate our Overweight rating and 12-month PT of $50 on HRTX stock. We do not see fundamental reasons for the stock’s recent weakness and view the stock’s recent sell-off as a compelling entry point and not driven by fundamentals. The market opportunity for HTX-011 remains compelling, with peak sales potential of over $1B, in our view. HRTX has successfully advanced HTX-011 toward a filing in the second half of this year, and we believe HTX-011’s uptake and peak sales potential could exceed FactSet consensus estimates and our own. We expect upward earnings revisions, along with an approval of HTX-011, to drive HRTX’s shares higher.”

According to TipRanks.com, Folkes is a 2-star analyst with an average return of 0.9% and a 36.8% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Heron Therapeutics with a $54 average price target.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts