Needham analyst Serge Belanger lowered the firm’s price target on Heron Therapeutics to $4 from $5 but keeps a Buy rating on the shares. The company’s Q3 financials are unlikely to excite anyone given another slow quarter of growth for Zynrelef and Aponvie, but the management provided detailed Q4 and 2024 guidance parameters that highlight Heron’s progress in restructuring and cost reduction, and more importantly mapping out a path to operating cash flow breakeven with positive EBITDA by the end 2024, the analyst tells investors in a research note.
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Read More on HRTX:
- Heron Therapeutics sees FY24 revenue $138M-$158M, consensus $156.57M
- Heron Therapeutics Announces Third Quarter 2023 Financial Results and Updates Financial Guidance
- Heron Therapeutics sees Q4 EBITDA, excluding stock compensation, ($10M)-($6M)
- Heron Therapeutics sees FY23 revenue $123M-$125M, consensus $124.61M
- Heron Therapeutics reports Q3 EPS (17c), consensus (29c)
