Heron Therapeutics (HRTX) PT Lowered to $13 at Cowen

Cowen analyst Boris Peaker lowered the price target on Heron Therapeutics (NASDAQ: HRTX) to $13.00 (from $31.00) while maintaining an Outperform rating following disappointing Q4 results.

The analyst commented, "Heron reported disappointing 4Q21 earnings with Zynrelef reaching sales of only $0.8MM (-61% Q/Q). We anticipate a slower growth rate than originally expected for Zynrelef sales. HTX-019 is on track for launch in 4Q22 with a PDUFA date set on September 17, 2022. Heron has cash sufficient into 3Q22 and will likely need to raise capital prior to this. Reducing price target to $13.00."

You May Also Be Interested In

• Adobe (ADBE) PT Raised to $250 at Baird
• William Blair Reiterates Outperform Rating on SpaceX (SPCX)
• Ovid Therapeutics Inc (OVID) PT Raised to $5 at H.C. Wainwright