Heron Therapeutics (NASDAQ:HRTX) has been trading on elevated volumes over the last few trading sessions.
The biotechnology company recently filed a supplemental new drug application (sNDA) for Zynrelef which could potentially expand the therapy for use in soft tissue and orthopedic surgical procedures.
The drug is currently approved for soft tissue or periarticular instillation. The new label expansion could double its targeted surgical procedures to 14 million.
Impressively, Zynrelef remains the first and only dual-acting local anesthetic on the market to deliver a fixed-dose combination of bupivacaine and meloxicam.
Not surprisingly, analysts see a massive 260% potential upside in the stock. The upside is based on a Moderate Buy consensus rating and an average price target of $9 for the stock.
HRTX shares have corrected about 73% over the past year while short interest in the stock still remains high at about 30%.
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