Canaccord Genuity analyst Dewey Steadman maintained a Buy rating on Aerie Pharma (NASDAQ: AERI) yesterday and set a price target of $86. The company’s shares opened today at $63.80.
Steadman said:
“We hosted Aerie CFO a fireside chat this afternoon at the Canaccord Genuity Growth Conference. Aerie is an ophthalmology company that recently launched Rhopressa, the first new class of glaucoma drugs in over twenty years. In addition to Rhopressa, Aerie plans to commercialize Roclatan, a combination of Rhopressa and latanoprost, the leading glaucoma therapy in the US market. Beyond glaucoma, Aerie is exploring the use of ROCK inhibitors in back-of-the-eye conditions like wet AMD and could explore opportunities to utilize ROCK inhibitors outside of ophthalmology. Rhopressa tracking well with strong user feedback. Launched earlier this year, Rhopressa is already gaining traction with ophthalmologists and patients, and Aerie is pleased with the current uptake trajectory.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 4.2% and a 39.2% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $86.33, representing a 35.3% upside. In a report issued on August 8, Cantor Fitzgerald 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 $47.05. Currently, Aerie Pharma has an average volume of 410.7K.
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.
