Heron Therapeutics announced last night that the FDA has extended the action date of HTX-011 by three months to June 26, Cantor Fitzgerald analyst Brandon Folkes tells investors in a research note. On a positive note, the contract manufacturer used to manufacture HTX-011 has been reinspected by the FDA with a recommendation of approval by the inspector, and no Form 483 observations were issued, adds the analyst. Based on his work, he believes a three-month delay in the HTX-011 launch is worth $1-$2 per share. The analyst reiterates an Overweight rating on Heron with a $41 price target.