Mizuho Securities analyst Difei Yang maintained a Buy rating on Heron Therapeutics (NASDAQ: HRTX) today and set a price target of $35. The company’s shares closed yesterday at $29.75, close to its 52-week high of $32.70.
Yang observed:
“We believe HTX-011 addresses what we see as an unmet needs in the postoperative pain market – failure of local anesthetics when inflammation is present. HTX-011 works as a combination of local anesthetic bupivacaine and anti-inflammatory agent meloxicam. Recent studies suggest a potential synergistic effect from both components which we see as an important differentiator for the drug over the current standard of care, i.e., generic bupivacaine.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.6% and a 48.9% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Heron Therapeutics is Strong Buy and the average price target is $41.90, representing a 40.8% upside.
In a report issued on May 8, Cowen & Co. also maintained a Buy rating on the stock with a $48 price target.
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The company has a one-year high of $32.70 and a one-year low of $12.70. Currently, Heron Therapeutics has an average volume of 1.29M.
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.
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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.
