Heron Therapeutics, Inc.

NasdaqCM:HRTX Stock Report

Market Cap: US$181.0m

Heron Therapeutics Valuation

Is HRTX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HRTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HRTX ($1.19) is trading below our estimate of fair value ($12.51)

Significantly Below Fair Value: HRTX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HRTX?

Key metric: As HRTX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HRTX. This is calculated by dividing HRTX's market cap by their current revenue.
What is HRTX's PS Ratio?
PS Ratio1.3x
SalesUS$137.74m
Market CapUS$180.99m

Price to Sales Ratio vs Peers

How does HRTX's PS Ratio compare to its peers?

The above table shows the PS ratio for HRTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average15.9x
TSVT 2seventy bio
4x21.8%US$181.6m
TCRX TScan Therapeutics
25.1x65.7%US$235.4m
LCTX Lineage Cell Therapeutics
18.7x49.1%US$163.2m
CRBU Caribou Biosciences
15.7x66.7%US$180.2m
HRTX Heron Therapeutics
1.3x13.8%US$181.0m

Price-To-Sales vs Peers: HRTX is good value based on its Price-To-Sales Ratio (1.3x) compared to the peer average (15.9x).

Price to Sales Ratio vs Industry

How does HRTX's PS Ratio compare vs other companies in the US Biotechs Industry?

145 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.10.3x21.3%
HRTX Heron Therapeutics
 1.3x13.8%US$180.99m
AMGN Amgen
4.7x2.4%US$152.45b
GILD Gilead Sciences
3.9x2.4%US$110.17b
HRTX 1.3xIndustry Avg. 10.3xNo. of Companies145PS020406080100+
145 CompaniesEstimated GrowthMarket Cap
Industry Avg.10.3x28.3%
HRTX Heron Therapeutics
 1.3x71.2%US$180.99m
No more companies

Price-To-Sales vs Industry: HRTX is good value based on its Price-To-Sales Ratio (1.3x) compared to the US Biotechs industry average (10.3x).

Price to Sales Ratio vs Fair Ratio

What is HRTX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HRTX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.3x
Fair PS Ratio2.7x

Price-To-Sales vs Fair Ratio: HRTX is good value based on its Price-To-Sales Ratio (1.3x) compared to the estimated Fair Price-To-Sales Ratio (2.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HRTX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.19
US$6.00
+404.2%
36.0%US$9.00US$4.00n/a3
Nov ’25US$1.78
US$7.00
+293.3%
23.3%US$9.00US$5.00n/a3
Oct ’25US$2.00
US$6.75
+237.5%
21.9%US$9.00US$5.00n/a4
Sep ’25US$1.93
US$6.75
+249.7%
21.9%US$9.00US$5.00n/a4
Aug ’25US$2.81
US$6.75
+140.2%
21.9%US$9.00US$5.00n/a4
Jul ’25US$3.47
US$6.75
+94.5%
21.9%US$9.00US$5.00n/a4
Jun ’25US$3.70
US$6.75
+82.4%
21.9%US$9.00US$5.00n/a4
May ’25US$2.34
US$6.75
+188.5%
21.9%US$9.00US$5.00n/a4
Apr ’25US$2.71
US$7.00
+158.3%
23.3%US$9.00US$5.00n/a3
Mar ’25US$2.61
US$6.67
+155.4%
30.8%US$9.00US$4.00n/a3
Feb ’25US$2.40
US$6.67
+177.8%
30.8%US$9.00US$4.00n/a3
Jan ’25US$1.70
US$5.63
+230.9%
45.1%US$9.00US$2.50n/a4
Dec ’24US$1.32
US$5.63
+326.1%
45.1%US$9.00US$2.50n/a4
Nov ’24US$0.63
US$7.30
+1,060.9%
26.6%US$10.00US$5.00US$1.785
Oct ’24US$1.03
US$7.30
+608.7%
26.6%US$10.00US$5.00US$2.005
Sep ’24US$1.57
US$7.30
+365.0%
26.6%US$10.00US$5.00US$1.935
Aug ’24US$1.61
US$7.30
+353.4%
26.6%US$10.00US$5.00US$2.815
Jul ’24US$1.16
US$7.92
+582.5%
23.2%US$10.00US$5.50US$3.476
Jun ’24US$1.11
US$7.92
+613.2%
23.2%US$10.00US$5.50US$3.706
May ’24US$2.43
US$8.08
+232.6%
21.0%US$10.00US$5.50US$2.346
Apr ’24US$1.51
US$8.08
+435.3%
21.0%US$10.00US$5.50US$2.716
Mar ’24US$2.33
US$10.08
+332.8%
31.2%US$15.00US$5.50US$2.616
Feb ’24US$2.70
US$10.08
+273.5%
31.2%US$15.00US$5.50US$2.406
Jan ’24US$2.50
US$10.08
+303.3%
31.2%US$15.00US$5.50US$1.706
Dec ’23US$2.68
US$10.08
+276.2%
31.2%US$15.00US$5.50US$1.326
Nov ’23US$3.89
US$13.42
+244.9%
58.6%US$30.00US$5.50US$0.636

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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