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Fly News Breaks for September 23, 2015
PCRX, HRTX
Sep 23, 2015 | 06:08 EDT
Leerink analyst Jason Gerberry raised his price target for Heron Therapeutics (HRTX) to $57 saying last night's Phase 2 topline data for HTX-011 in post-operative pain look "much stronger" than Pacira's (PCRX) Exparel. While HTX-011 is a higher absolute dose compared to Exparel's, the drug's delivery technology provides "stable long-acting delivery of bupivacaine over 3-days at acceptable drug blood levels," Gerberry tells investors in a research note. The analyst raised his 2025 sales forecast and odds of success for HTX-011 to $700M and 65%, respectively. He keeps an Outperform rating on Heron.
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