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Heron selloff on index rebalancing creates buy opp: Cowen

May 27, 2017

Cowen analyst Boris Peaker said today’s weakness in Heron Therapeutics (NASDAQ: HRTX) on index re-balancing crates a buying opportunity.

Peaker said he believes today’s weakness (-8.5% earlier) is due to PJP Index rebalancing, which requires the index to sell 2.2M shares.

“As such we view this as a buying opportunity,” he said. The analyst reiterated an Outperform rating and price target of $40.00.


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