In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Aerie Pharma (AERI), with a price target of $77. The company’s shares closed yesterday at $48.11.
Yang noted:
“We conducted doc calls with three current prescribers of Rhopressa classified as; and declining). All doctors were constructive on Rhopressa’s new MoA. For two docs, the ability to reduce drop burden and improve compliance represent a significant advantage. On the flip side, all doctors mentioned insurance coverage and co-pay as limiting factors to faster uptake. Hyperemia also came up as a side effect. While all doctors use slightly different treatment algorithms, it is clear Rhopressa plays an important role for each of them. Importantly, everyone we spoke to sees very strong potential in Roclatan given 1) drop burden reduction, and 2) combo with market leading PGA.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.6% and a 50.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aerie Pharma with a $78.86 average price target, implying a 63.9% upside from current levels. In a report issued on February 21, Oppenheimer also assigned a Buy rating to the stock with a $64 price target.
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Based on Aerie Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $51.46 million. In comparison, last year the company had a GAAP net loss of $58.51 million.
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Aerie Pharmaceuticals, Inc. is a clinical stage pharmaceutical company, which engages in the discovery, development, and commercialization of therapies for the treatment of patients with glaucoma and diseases of the eye. Its products include Rhopressa and Roclatan.
