On Thursday, Northland Securities sustained their Outperform rating on Heron Therapeutics (NASDAQ:HRTX) with a steady price target of $9.00. The firm's outlook is buoyed by several anticipated developments for the company. Among these is the complete deployment of 650 CrossLink representatives tasked with marketing ZYNRELEF by the end of 2024. Additionally, the launch of ZYNRELEF's vial-access needle (VAN) device is expected in the fourth quarter of 2024.
The company has also seen more than 109 Pharmacy and Therapeutic (PNT) committee approvals for APONVIE since the completion of a salesforce retraining initiative in the fourth quarter of 2023. This achievement is projected to significantly boost the company's financial performance in fiscal year 2024 and the years following. Heron's CINV franchise is also anticipated to maintain stable growth.
Furthermore, Heron Therapeutics is preparing for the regulatory submission of its ZYNRELEF pre-filled syringe (PFS) device, which is slated for the fourth quarter of 2026. This submission is expected to be a significant step forward for the company's product lineup.
The series of upcoming milestones outlined by Northland Securities underscores a positive perspective on Heron Therapeutics' potential for growth and market expansion. The targeted initiatives and product developments are set to shape the company's trajectory in the near future.
InvestingPro Insights
As Heron Therapeutics (NASDAQ:HRTX) embarks on a series of initiatives to bolster its market presence, Northland Securities maintains an optimistic outlook with a price target of $9.00. Supporting this perspective are key metrics and insights from InvestingPro. The company's market capitalization stands at a solid $481.34 million, reflecting investor confidence despite the company not being profitable in the last twelve months, as indicated by a negative P/E ratio of -5.72. The negative PEG ratio of -0.1 suggests that market expectations for future earnings growth may not be strong.
However, Heron Therapeutics has experienced a remarkable 227.23% price total return over the last six months, trading near its 52-week high at 98.45% of the peak price. This momentum is underscored by an impressive one-year price total return of 138.1%. An InvestingPro Tip identifies the stock price movements as quite volatile, which could be an important consideration for investors seeking stability. Additionally, analysts do not anticipate the company will be profitable this year, which aligns with the significant operating income margin deficit of -49.02%.
Despite these challenges, Heron's liquid assets exceed short-term obligations, providing some financial flexibility as it pushes forward with its strategic plans. For those looking to delve deeper into Heron Therapeutics' financials and future prospects, InvestingPro offers additional insights. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to even more InvestingPro Tips for a comprehensive investment analysis.
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