After Needham and Mizuho Securities gave Aerie Pharma (NASDAQ: AERI) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Elemer Piros reiterated a Buy rating on Aerie Pharma today and set a price target of $86. The company’s shares opened today at $64.75.
Piros wrote:
“: We reiterate our Overweight rating and $86 12-month PT on 2Q18 financial and corporate updates. The first true quarter of the Rhopressa launch led to sales of $2.4 million. In addition to expanding launch efforts, the company is focused on Roclatan, which has a PDUFA action date of March 14, 2019. With a solid sales team in hand, Aerie is well-positioned, we believe, ahead of potentially having two approved glaucoma drugs next year.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.3% and a 39.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aerie Pharma with a $82.60 average price target.
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The company has a one-year high of $74.75 and a one-year low of $47.05. Currently, Aerie Pharma has an average volume of 405.7K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is neutral 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.
