After Stifel Nicolaus and Cowen & Co. gave Heron Therapeutics (NASDAQ: HRTX) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Brandon Folkes maintained a Buy rating on Heron Therapeutics today and set a price target of $50. The company’s shares closed on Friday at $25.74.
Folkes observed:
“We expect upward earnings revisions, and approvals 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 a 3-star analyst with an average return of 2.9% and a 43.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Heron Therapeutics with a $54.67 average price target, which is an 112.4% upside from current levels. In a report issued on February 27, Cowen & Co. also maintained a Buy rating on the stock with a $54 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $42.90 and a one-year low of $21.25. Currently, Heron Therapeutics has an average volume of 842.5K.
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.
