Cantor Fitzgerald analyst Elemer Piros maintained a Buy rating on Aerie Pharma (NASDAQ: AERI) today and set a price target of $86. The company’s shares opened today at $59.09.
Piros noted:
“We rate Aerie Pharmaceuticals Overweight. AERI commercializes and develops once- daily eye drops Rhopressa and Roclatan, respectively, for glaucoma. Rhopressa is the first novel drug in a market that has not seen innovation in 20 years. Valuation Summary We value Aerie based on the NPV of the cash flows associated with its glaucoma drug candidates. Our price target is $86/share.”
According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.5% and a 46.4% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $86.33, which is a 46.1% upside from current levels. In a report issued on September 24, Mizuho Securities also maintained a Buy rating on the stock with a $77 price target.
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Based on Aerie Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $55.02 million. In comparison, last year the company had a GAAP net loss of $32.37 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative 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.
