Aerie Pharma (AERI) Received its Third Buy in a Row


After Canaccord Genuity and Oppenheimer gave Aerie Pharma (NASDAQ: AERI) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Difei Yang maintained a Buy rating on Aerie Pharma today and set a price target of $77. The company’s shares closed yesterday at $46.55.

Yang commented:

“We are including weekly IQVIA Scripts for Rhopressa below. For the week ended 03/01/2019, Rhopressa TRx increased +5.7% to 5,839 from 5,522 the prior week; and Rhopressa NRx increased +4.8% to 2,488 from 2,375 the prior week. We provide scripts data for informative purposes only. We believe investors should focus on longer-term demand trends vs. weekly fluctuations. For investors to keep in mind: IQVIA reporting has changed going back to the week ending 01/06/17. Prior to the reporting change, volumes reflected all volumes dispensed, even if not accepted by patients. The new reporting only reflects prescriptions accepted by patients. We compared the updated IQVIA data for Rhopressa since launch to historical data. We note that the weekly decline in TRx ranges from -10% to -16%, with an average of -13%.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.6% and a 50.4% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.

Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $78.86, implying a 69.4% 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.

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