Heron Therapeutics Receives a Buy from Cantor Fitzgerald


In a report released today, Louise Chen from Cantor Fitzgerald assigned a Buy rating to Heron Therapeutics (NASDAQ: HRTX), with a price target of $40. The company’s shares opened today at $31.15, close to its 52-week high of $34.

Chen commented:

“We 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 $40.”

According to TipRanks.com, Chen has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.0% and a 39.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.

Currently, the analyst consensus on Heron Therapeutics is Strong Buy and the average price target is $41.18, representing a 32.2% upside.

In a report issued on May 10, Oppenheimer also reiterated a Buy rating on the stock with a $34 price target.

See today’s analyst top recommended stocks >>

Based on Heron Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $52.27 million. In comparison, last year the company had a GAAP net loss of $50.33 million.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HRTX in relation to earlier this year.

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 or pain. The company develops products by using its proprietary Biochronomer polymer based drug delivery technology. Its primary products are SUSTOL, HTX-019 and HTX-011.

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