After Evercore ISI and Cowen & Co. gave Heron Therapeutics (NASDAQ: HRTX) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Serge Belanger maintained a Buy rating on Heron Therapeutics today and set a price target of $50.00. The company’s shares closed last Monday at $21.24.
According to TipRanks.com, Belanger is a 1-star analyst with an average return of -1.3% and a 40.2% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, KalVista Pharmaceuticals, and Collegium Pharmaceutical.
Currently, the analyst consensus on Heron Therapeutics is a Strong Buy with an average price target of $48.83, representing a 130.3% upside. In a report issued on October 28, Stifel Nicolaus also reiterated a Buy rating on the stock.
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Based on Heron Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $50.22 million. In comparison, last year the company had a GAAP net loss of $38.35 million.
Based on the recent corporate insider activity of 8 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. The company develops products by using its proprietary Biochronomer polymer based drug delivery technology. Its products include SUSTOL, Pipeline, Cinvanti and HTX-011.
