Needham analyst Serge Belanger has maintained their bullish stance on HRTX stock, giving a Buy rating today.
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Serge Belanger has given his Buy rating due to a combination of factors that suggest potential for future growth despite recent challenges. The company has undertaken financial maneuvers to address its existing debt, extending maturities to 2030/2031, which alleviates some of the financial pressure and provides a more stable outlook.
Although Heron Therapeutics reported a slight decline in quarterly revenue and missed market expectations, the company has maintained its annual revenue guidance and adjusted EBITDA expectations. The current stock valuation does not fully capture the company’s growth prospects, which is why Belanger maintains a Buy rating, albeit with a revised price target to account for recent financial transactions and market conditions.
According to TipRanks, Belanger is a 3-star analyst with an average return of 2.8% and a 44.00% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Liquidia Technologies, Trevi Therapeutics, and BioCryst.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $6.00 price target.