Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on Heron Therapeutics (HRTX) today. The company’s shares opened today at $25.95.
Archila noted:
“We are reiterating our Buy rating on HRTX shares after the company reported additional opioid sparing data from a bunionectomy surgical model (hard tissue model) where HTX-011, which is being developed for the prevention of post-op pain, demonstrated 77% of patients required no opioids through 72 hours and more importantly, all patients who were opioid-free through 72 hours remained opioid free through 28 days post surgery. Recall, HRTX’s opioid elimination studies are evaluating HTX-011’s ability to prevent opioid use as part of a multi-modal pain management regimen, as it would be used in real clinical practice.”
According to TipRanks.com, Archila is ranked 0 out of 5 stars with an average return of -7.5% and a 32.7% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Pacira Pharmaceuticals.
Currently, the analyst consensus on Heron Therapeutics is a Strong Buy with an average price target of $54.67, implying an 110.7% 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.
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Based on Heron Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $49.56 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.
