Analyst Serge Belanger from Needham maintained a Buy rating on Heron Therapeutics and keeping the price target at $3.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Serge Belanger has given his Buy rating due to a combination of factors that highlight the potential of Heron Therapeutics’ portfolio. The company’s third-quarter performance showed a slight increase in revenue compared to the previous quarter and year, despite not meeting market expectations. However, the promising developments with their products, Aponvie and Zynrelef, suggest a positive trajectory that could compensate for the weaker sales in their oncology care segment.
Belanger believes that the current market valuation does not fully reflect the potential growth driven by these key products. Heron Therapeutics has reiterated its annual guidance, and while they are currently trending towards the lower end of their revenue forecast, the mid-point of their adjusted EBITDA target remains achievable. This underappreciation in the market, combined with the encouraging signs from their product lineup, supports the Buy rating and the price target set by Belanger.
According to TipRanks, Belanger is a 4-star analyst with an average return of 8.4% and a 47.60% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Cormedix, Amphastar Pharmaceuticals, and Viridian Therapeutics.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $6.00 price target.