EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Heron Therapeuti (HRTX) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Heron Therapeuti $0.04, price $0.29, upside -85.3%, quality 26 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Healthcare · US · ISIN US4277461020

HT Heron Therapeuti logo Thin data Sep 24, 2026

Heron Therapeuti

HRTX · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $0.0425 · Strongly overvalued (−85%)
!Quality 26/100
!Mixed Growth (revenue 5y +11.8 %/yr)
!Loss-making · -22.5% net margin (TTM)
!High debt · negative free cash flow
!Trails peers (3/9)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
!Weak on future: 7 out of 100
Watch Heron Therapeuti for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free Pro now: $1 first month

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$16.62 $0.2700 Fair Value $0.0425 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $0.2700 – $16.62 · fair‑value band $0.0340 – $0.0680 · the $0.2900 price screens above the $0.0425 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

Follow Heron Therapeuti in your weekly email

Every Wednesday you see whether Heron Therapeuti is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Heron Therapeutics, Inc., a commercial-stage biotechnology company, engages in developing and commercializing therapeutic that enhances medical care.

Show more

Heron Therapeutics, Inc., a commercial-stage biotechnology company, engages in developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration. It offers SUSTOL (granisetron), an extended-release injection for the prevention of acute and delayed nausea and vomiting associated with moderately emetogenic chemotherapy, or anthracycline and cyclophosphamide combination chemotherapy regimens; and CINVANTI, an intravenous formulation of aprepitant, a substance P/neurokinin-1 receptor antagonist for the prevention of acute and delayed nausea and vomiting associated with highly emetogenic cancer chemotherapy, as well as nausea and vomiting associated with moderately emetogenic cancer chemotherapy. The company is also developing ZYNRELEF, a dual-acting local anesthetic that delivers a fixed-dose combination of the local anesthetic bupivacaine and a low dose of the nonsteroidal anti-inflammatory drug meloxicam; and APONVIE, an intravenous formulation of a substance P/neurokinin-1 receptor antagonist indicated for the prevention of postoperative nausea and vomiting in adults. Heron Therapeutics, Inc. was formerly known as A.P. Pharma, Inc. and changed its name to Heron Therapeutics, Inc. in January 2014. The company was founded in 1983 and is headquartered in Cary, North Carolina.

Stock analysis

Heron Therapeuti (HRTX) currently trades at $0.2900, while our model-based Fair Value estimate is $0.0425, implying the stock looks roughly 582.1% overvalued today.

Show more

Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.

Scenario range: $0.0340 (bear) to $0.0680 (bull), the price of $0.2900 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 26/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Heron Therapeuti reported revenue of $155M in FY2025 versus $86.3M in FY2021, a compound +15.7%/yr. Reported net income was −$20.2M in FY2025.

Key figures

Market cap $59.6M · P/S ratio 0.39 · EPS (TTM) $−0.1900 · Net margin −13.0% · Return on equity −2,409% · Return on assets (EBIT) −39.3% · Operating margin −5.4% · Revenue (TTM) $151M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 81% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −85%, HRTX screens richer than that median.

Fair Value models

Bear $0.0340 Fair Value $0.0425 Bull $0.0680
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $0.0400 $0.0500 $0.0800 53
All 1 models by family
Asset-Based
NCAV (Graham) $0.0400 $0.0500 $0.0800 53

Open the full fair value analysis →

Notify me when HRTX reaches fair value

Put HRTX on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 26/100

Of which business quality 26 · Market factors (momentum, volatility) 4

Profitability 24
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 7
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.8%
Start year 2020 (pandemic)
Revenue growth 38 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−257.4% (2020) → −1.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

HRTX screens 582% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

Compare Heron Therapeuti with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 654 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −85% · Bottom 25%
Profitability
Return on assets −3% · Above median
Net margin (TTM) −23% · Below median
Operating margin (TTM) −5% · Below median
Growth and dividend
Revenue growth 1% · Above median
Balance sheet
Debt / equity 9.81× · Highest 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 3.86× · Priciest 25%
P/S (TTM) 0.37× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)7 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 23

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $522.38 $574.62 +10%
Regeneron Pharmaceuticals, Inc REGN $801.82 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.12 A$197.03 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
BeOne Medicines AG 6160 HK$218.20 HK$169.72 −22%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BioNTech SE BNTX $100.87 $63.62 −37%

Explore undervalued stocks

More undervalued Healthcare stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Heron Therapeuti · Fair Value
$0.0425 −582%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Heron Therapeuti Fair Value". https://www.fairvalue-calculator.com/stock/HRTX

Frequently asked questions

Is Heron Therapeuti (HRTX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.0425 versus a price of $0.2900, about −85% upside (overvalued).
What is the fair value of HRTX?
Our model-based fair value for Heron Therapeuti is $0.0425 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.2900.
What is the quality score of HRTX?
Heron Therapeuti has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Heron Therapeuti (HRTX)?
Our model-based price target is the fair value of $0.0425 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario $0.0340, optimistic scenario $0.0680. It is a calculation from audited fundamentals, not an analyst target.
What is the Heron Therapeuti stock forecast for 2026?
Our models put fair value at $0.0425, about −85% upside versus a price of $0.2900 (overvalued). Cautious scenario $0.0340, optimistic scenario $0.0680. The calculation is refreshed regularly with new filings.
What is the revenue of Heron Therapeuti (HRTX)?
Heron Therapeuti reported trailing-twelve-month revenue of about $151M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Heron Therapeuti (HRTX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Heron Therapeuti it is $0.0425 per share (as of Sep 24, 2026), against a price of $0.2900. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Heron Therapeuti stock overvalued or undervalued in 2026?
As of Sep 24, 2026, HRTX trades above its calculated fair value: price $0.2900, fair value $0.0425, a gap of about −85% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HRTX?
No. The price is what the market pays today ($0.2900); the fair value is what the company's own numbers justify ($0.0425). For Heron Therapeuti the two are $0.2475 per share apart. That gap is exactly why we show both numbers side by side.
How much is Heron Therapeuti worth?
The market values Heron Therapeuti at about $59.6M (market capitalisation, as of Sep 24, 2026). Per share that is $0.2900; our models calculate a fair value of $0.0425 per share.
What do the bullish and bearish scenarios say about HRTX?
Our models span a range for Heron Therapeuti: cautious scenario $0.0340, base $0.0425, optimistic $0.0680 per share (as of Sep 24, 2026, price $0.2900). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Heron Therapeuti (HRTX)?
Balance-sheet figures for Heron Therapeuti (as of Sep 24, 2026): debt of 9.81 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is HRTX from its 52-week high?
Heron Therapeuti trades at $0.2900, about 81% below its 52-week high of $1.49 and 7% above the low of $0.2700 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $0.0425 is for.
Which stocks are comparable to Heron Therapeuti?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Heron Therapeuti stock attractive at the current price?
The data as of Sep 24, 2026: price $0.2900, calculated fair value $0.0425 (−85%), Quality Score 26/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HRTX calculated?
We run Heron Therapeuti through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.0425, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Heron Therapeuti itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Heron Therapeuti (HRTX)?
The closing price on Sep 24, 2026 was $0.2900. Our model-based fair value is $0.0425, about −85% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Heron Therapeuti right now?
The price sits above even our optimistic bull case ($0.0680). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.0340 to $0.0680) leaves room in how you read the outcome.

Key figures of Heron Therapeuti

How large is the market capitalisation of Heron Therapeuti (HRTX)?
The market capitalisation of Heron Therapeuti is $59.6M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Heron Therapeuti (HRTX)?
The price-to-sales ratio of Heron Therapeuti is 0.39 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Heron Therapeuti (HRTX)?
Earnings per share at Heron Therapeuti are $−0.1900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Heron Therapeuti (HRTX)?
The net margin of Heron Therapeuti is −13.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Heron Therapeuti (HRTX)?
The return on equity (ROE) of Heron Therapeuti is −2,409% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Heron Therapeuti (HRTX)?
On an EBIT basis the return on assets of Heron Therapeuti is −39.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Heron Therapeuti (HRTX)?
The operating margin of Heron Therapeuti is −5.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Heron Therapeuti (HRTX)?
Revenue at Heron Therapeuti is growing +1.3% versus a year earlier (3y avg +12.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Heron Therapeuti (HRTX) generate?
The free cash flow of Heron Therapeuti is −$27.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Heron Therapeuti (HRTX) carry?
The net debt of Heron Therapeuti is $112M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch Heron Therapeuti in the live analysis

One click puts Heron Therapeuti on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.