Heron Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Clara Dong from Jefferies maintained a Buy rating on the stock and has a $5.00 price target.
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Clara Dong’s rating is based on several positive developments for Heron Therapeutics. The company’s product, Zynrelef, has shown significant revenue growth, driven by increased demand, a successful transition to the Vial Access Needle (VAN), and improved access through a new J-code for reimbursement. These factors have contributed to a 49% year-over-year increase in revenue for Zynrelef, with management expecting this momentum to continue into the next quarter and beyond.
Additionally, the company’s Aponvie product has experienced substantial growth, supported by a newly trained and dedicated sales team. This team is expected to further drive demand as they increase physician awareness and education. Despite some challenges in the oncology franchise, with modest declines in Cinvanti and Sustol, the overall outlook for Heron Therapeutics remains positive, bolstered by strategic investments in sales and anticipated inclusion in upcoming clinical guidelines.
In another report released today, Needham also maintained a Buy rating on the stock with a $3.00 price target.
Based on the recent corporate insider activity of 34 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.