Aerie Pharma (AERI) Receives a Buy from Oppenheimer


Oppenheimer analyst Esther Rajavelu maintained a Buy rating on Aerie Pharma (AERI) today and set a price target of $64. The company’s shares opened today at $39.50.

Rajavelu observed:

“AERI reported 4Q results with revenues and cash burn in line with management’s prior guidance range. We believe AERI ended 2018 on a high note operationally, and expect 2019 to be a year of continued top-line growth, manageable expense base, and catalyst-driven momentum, including the upcoming Rocklatan PDUFA on 3/14 and several clinical readouts from its retinal programs later in the year. Most importantly (in our view), despite the rapid growth profile, management expects to fund its operations and investments with available liquidity. In line with our expectations, management did not provide revenue guidance; however, it noted that 2019 cash burn will be similar to the 2018 burn rate of $210M-$220M. We believe AERI continues to be well positioned to execute commercially in 2019.”

According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -1.9% and a 45.0% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rocket Pharmaceuticals Inc, and Jazz Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aerie Pharma with a $77.40 average price target, representing a 95.9% upside. In a report issued on February 12, Canaccord Genuity also reiterated a Buy rating on the stock with a $86 price target.

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The company has a one-year high of $74.75 and a one-year low of $32.18. Currently, Aerie Pharma has an average volume of 621.5K.

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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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