It was a difficult start to the week for Heron Therapeutics (HRTX). Monday saw shares plunge after the small-cap biotech received another CRL (complete response letter) for its experimental post-operative pain medication, HTX-011.Following the verdict, Stifel analyst Derek Archila acknowledges that the current sentiment surrounding HRTX is negative, but he remains optimistic about the candidate.“While we think investors are losing confidence/patience with HRTX on getting HTX-011 over the goal line (2 CRLs and a PDUFA extension), the issues raised by the FDA in the CRL appear to be of a minor nature, and management’s commentary on the conference call make us confident they are addressable. No issues in terms of clinical efficacy, safety or CMC were brought up in the CRL.” said Archila.HTX-011 was rejected because of four non-clinical issues. Three were linked to “confirming excipient exposure in pre-clinical reproductive toxicology studies,” and one was related to changing the manufacturing release specs.Management stated it plans to request a meeting with the FDA in which they will discuss how to provide the correct information regarding the excipient exposure. At worst, Heron will need to conduct reproductive toxicology studies for six months. The other lingering issue was, by and large, an administrative one which could be easily resolved.For Archila, the main question remains how long it will take to fix these issues and re-submit the NDA. This is hard to gauge. Without the need for additional studies, Archila estimates a new NDA could be submitted within two months. Should new studies be required, on top of the six months it would take to run the study, a further six months would be required to sift through the data and conduct a Class II review.“So, is it possible HTX-011 could get approved in 2020?” Archila asked before answering, “In our view, yes, technically it could, but we would be conservative and assume a one-year delay.”With approval still very likely, Archila keeps a Buy rating on Heron shares. Even though he cut the price target from $29 to $21, there’s still room for shares to gain 36% over the next year. (To watch Archila’s track record, click here)The rest of the Street’s enthusiasm for Heron hasn’t soured, either. All 9 reviews posted over the last three months rated the stock a Buy. HRTX’s Strong Buy consensus rating is backed by an average price target of $31.33, which implies possible upside of a painkilling 102%. (See Heron stock analysis on TipRanks)To find good ideas for biotech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. More recent articles from Smarter Analyst: * Online Shopping Trends Another Good Omen for Amazon; Analyst Raises Price Target * Is BlackBerry Stock a Buy Right Now? This Is What You Need To Know * Nike Stock Will Surge 15% From Current Levels, Says Analyst * 2 Beaten-Up Penny Stocks That Look Set for a Rebound

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Uncle Sam best come through with more stimulus checks, or else investors could be battered.

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Tigress Financial Partners Chief Investment Officer Ivan Feinseth joins Yahoo Finance’s Zack Guzman to discuss his outlook on the markets as new Pfizer data sparks coronavirus vaccine optimism.

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If you are looking for the best ideas for your portfolio you may want to consider some of Amana Mutual Funds top stock picks. Amana Mutual Funds, an investment management firm, is bullish on Dupont De Nemours Inc. (NYSE:DD) stock. In its Q4 2019 investor letter – you can download a copy here – the […]

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The frantic global search for a vaccine or therapy for the coronavirus has sent the valuations of previously small cap biotechs to unimagined heights over a short period of time. There can’t be many better examples for the phenomenon than Inovio Pharmaceuticals (INO). Investors have cheered the progress of its COVID-19 DNA vaccine candidate INO-4800 by sending shares on a mightily impressive run – the stock is up by 505% since the turn of the year (even after today's 25% sell off).The massive gains, the richly valued $3.2 billion market cap and a track record that – while promising – has yet to yield any significant results have prompted a rethink at investment firm H.C. Wainwright.“We believe the risk/reward ratio for Inovio has increased significantly as many open questions remain,” said firm analyst Ram Selvaraju, “Including the strength and duration of neutralizing antibodies and T cell responses that may be generated in human trials and the effective protection the vaccine may demonstrate in animal challenge studies.” “As a reminder,” concluded the 5-star analyst, “There is no approved human vaccine for any type of coronavirus, while no DNA vaccines have been approved for human use yet.”INO-4800 is currently in a Phase 1 trial with interim data expected any day now. A Phase 2/3 trial of INO-4800 is also planned to go ahead this summer. The company will need to demonstrate why its DNA based approach is “superior.” Proof Inovio can run the gamut from market authorization, to maintaining enough supply to pricing the vaccine reasonably while also driving profit, will also be required. Lastly, Selveraju says, Inovio’s offering will need to show “evidence that the immunity afforded by vaccination lasts sufficiently to have a significant impact on the spread of the coronavirus pandemic.”As these questions remain to be answered, Selvaraju slashed his rating on INO from Buy to Neutral, while removing his price target. (To watch Selvaraju’s track record, click here)Selveraju’s view is partially echoed by his colleagues across the Street, with 5 analysts saying Hold, and 3 suggesting Buy. Yet, the average price target of $26.50 implies 31% upside from current levels. (See Inovio stock-price forecast on TipRanks)To find good ideas for biotech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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The European Commission said on Wednesday it was in negotiations with Gilead Sciences Inc to obtain doses of COVID-19 antiviral remdesivir for the 27 European Union countries. The Commission said it took note of the announcement that the United States had secured nearly all of Gilead’s projected production capacity for the next three months.

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The U.S. economy is expected to have added millions more payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen.

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Yahoo Finance’s Adam Shapiro breaks down Wednesday’s trending headlines.

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