Aerie Pharma Received its Third Buy in a Row

After Cantor Fitzgerald and H.C. Wainwright 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 $52.35.

Yang wrote:

“We believe the recent launch of Rhopressa will pave the way for Roclatan and we expect Aerie will be able to leverage a fully established sales force at the time of launch in 2019.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 20.4% and a 52.9% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.

Currently, the analyst consensus on Aerie Pharma is Strong Buy and the average price target is $81.75, representing a 56.2% upside.

In a report issued on May 10, Canaccord Genuity also maintained a Buy rating on the stock with a $86 price target.

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Based on Aerie Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $40.7 million. In comparison, last year the company had a GAAP net loss of $25.79 million.

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Aerie Pharmaceuticals, Inc. is a clinical stage pharmaceutical company. It focuses on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The company’s product candidates are Rhopressa and Roclatan.