Cantor Fitzgerald analyst Brandon Folkes maintained a Buy rating on Heron Therapeutics (HRTX) today and set a price target of $50. The company’s shares opened today at $27.89.
Folkes commented:
“We reaffirm our OW rating and 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 a 1-star analyst with an average return of -0.6% and a 42.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Collegium Pharmaceutical, and ANI Pharmaceuticals Inc.
Currently, the analyst consensus on Heron Therapeutics is a Strong Buy with an average price target of $54.67.
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The company has a one-year high of $42.90 and a one-year low of $19.55. Currently, Heron Therapeutics has an average volume of 894.9K.
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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.
