.jpg "Aerie Pharma (AERI) Initiated with a Buy at Oppenheimer")
Aerie Pharma (AERI) received a Buy rating and a $64 price target from Oppenheimer analyst Esther Rajavelu today. The company’s shares opened today at $39.93, close to its 52-week low of $38.50.
Rajavelu observed:
“On 11/12/18, we initiated coverage of Aerie Pharmaceuticals (AERI) with an Outperform rating and $64 price target. With recently launched Rhopressa, a first-in-class Rho kinase (ROCK) inhibitor to reduce intra-ocular pressure in glaucoma and ocular hypertension patients, and with potential 1Q19 approval of Rocklatan, a fixed-dose combination of Rhopressa and latanoprost, AERI is well positioned for revenue growth over the next several years. Early Rhopressa launch trends make us comfortable with AERI’s commercial infrastructure, and we believe the company could address several unmet needs with both on market. We also like its leverageable infrastructure, strong balance sheet, and potential upside from an early-stage pipeline focused on diseases of the retina.”
According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -4.4% and a 41.7% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Teva Pharma, and KemPharm.
Currently, the analyst consensus on Aerie Pharma is a Strong Buy with an average price target of $81.67, a 104.5% upside from current levels. In a report issued on November 27, Mizuho Securities also maintained a Buy rating on the stock with a $77 price target.
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Based on Aerie Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $85.39 million. In comparison, last year the company had a GAAP net loss of $32.37 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock.
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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.
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