Aerie Pharma (AERI) Receives a Buy from Cantor Fitzgerald

In a report released today, Elemer Piros from Cantor Fitzgerald maintained a Buy rating on Aerie Pharma (AERI), with a price target of $85. The company’s shares opened today at $45.82.

Piros said:

“We rate Aerie Pharmaceuticals Overweight. AERI is commercializing and developing once-daily eye drops Rhopressa and Rocklatan, respectively, for glaucoma. Rhopressa is the first novel drug in a market that has not had innovation in 20 years. Valuation Summary We value Aerie based on the NPV of the cash flows associated with its glaucoma drug candidates. Our target price is $85/share.”

According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.7% and a 42.9% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

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 72.1% upside from current levels. In a report issued on February 26, Oppenheimer also maintained a Buy rating on 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.