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Heron Therapeutics (HRTX) Gets a Buy Rating from Cantor Fitzgerald


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 opened today at $29.

Folkes observed:

“We reiterate our OW rating and 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, Folkes is a 1-star analyst with an average return of -2.0% and a 37.5% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.

Heron Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $50, a 72.4% upside from current levels. In a report issued on September 26, Stifel Nicolaus also reiterated a Buy rating on the stock.

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The company has a one-year high of $42.90 and a one-year low of $14.40. Currently, Heron Therapeutics has an average volume of 898.7K.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is neutral on the stock. Last 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.