After Mizuho Securities and H.C. Wainwright gave Aerie Pharma (NASDAQ: AERI) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Esther Rajavelu reiterated a Buy rating on Aerie Pharma yesterday and set a price target of $65. The company’s shares closed yesterday at $41.12.
Rajavelu commented:
“We reiterate our Outperform rating and revise our price target to $65 from $64, post AERI’s 1Q business update. With Rocklatan now on market with 60% of commercial lives under coverage at launch, we expect the company may continue to execute effectively to drive uptake among prescribers as well as payers. We also note management’s efforts to create long-term shareholder value that include proactively strengthening AERI’s balance sheet with non-dilutive funding, actively seeking pipeline expansion opportunities, funding internal R&D efforts, and investing in OUS expansion. We believe this savvy management team may be positioning AERI to grow into a major global ophthalmology player over the next several years.”
According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -2.4% and a 33.3% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Biohaven Pharmaceutical Holding Co Ltd, and Rocket Pharmaceuticals Inc.
Currently, the analyst consensus on Aerie Pharma is a Strong Buy with an average price target of $76.38, implying an 85.7% upside from current levels. In a report issued on April 26, Mizuho Securities also maintained a Buy rating on the stock with a $77 price target.
See today’s analyst top recommended stocks >>
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 $40.7 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Aerie Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of therapies for the treatment of patients with open-angle glaucoma, retinal diseases and other diseases of the eye. Its products include Rhopressa, Roclatan, AR-13503, and AR-1105.
