Is HRTX or IBO more undervalued in 2026?

CirclFi compares Heron Therapeutics, Inc. (HRTX) and Impact BioMedical, Inc. (IBO) using 13 institutional-grade valuation models. HRTX has a Quality of Company score of 6.1/10 while IBO scores 4.4/10.

Which is a better buy — HRTX or IBO?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do HRTX and IBO valuations compare?

HRTX at $0.89 and IBO at $0.51 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

HRTX vs IBO Valuation Comparison 2026 — Intrinsic Value Analysis

HRTX

Biotechnology

Heron Therapeutics, Inc.

Quality

6.1

out of 10

Value Trap

SAFE

Price

$0.89

Last close

Models

11/13

Active

IBO

Biotechnology

Impact BioMedical, Inc.

Quality

4.4

out of 10

Value Trap

SAFE

Price

$0.51

Last close

Models

6/13

Active

Model-by-Model Comparison

Model	Type	HRTX Fair Value	HRTX Upside	IBO Fair Value	IBO Upside
Bayesian DCF	Intrinsic	$0.27	-69.6%	$0.12	-76.3%
Earnings Power Value	Intrinsic	$0.16	-86.7%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$0.58	-34.9%	$0.02	-95.1%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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HRTX vs IBO — Which Stock Is More Undervalued?

HRTX scores higher with a 6.1/10 quality rating vs IBO's 4.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Heron Therapeutics, Inc. (HRTX) and Impact BioMedical, Inc. (IBO) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

HRTX currently trades at $0.89 with a QOC of 6.1/10, while IBO trades at $0.51 with a QOC of 4.4/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).