Heron Therapeutics (HRTX) Receives a Buy from Cantor Fitzgerald


Cantor Fitzgerald analyst Brandon Folkes reiterated a Buy rating on Heron Therapeutics (HRTX) today and set a price target of $50. The company’s shares opened today at $25.41.

Folkes observed:

“We reiterate our OW rating and expect upward earnings revisions, along with an approval of HTX-011, to drive HRTX shares higher. We expect upside to come from 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 ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.7% and a 23.8% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.

Currently, the analyst consensus on Heron Therapeutics is a Strong Buy with an average price target of $53.25.

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Based on Heron Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $38.35 million. In comparison, last year the company had a GAAP net loss of $62.49 million.

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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.

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