In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Aerie Pharma (AERI), with a price target of $77. The company’s shares closed yesterday at $41.55, close to its 52-week low of $38.50.
Yang noted:
“We believe there is potential to see a faster ramp compared to Rhopressa, although how much faster remains TBD. Two things could contribute to a faster launch; 1) reimbursement approvals could come faster as contracts with payers have already been in place (from Rhopressa). The reason that reimbursement for Rocklatan will not be automatic is that a clinical review must still take place for Rocklatan as well as rebate pricing discussions with payers. 2) the sampling program is likely to be smaller than for Rhopressa, as doctors by then would be quite familiar with the use of Rhopressa and hence, there is less the need for patient trial. In addition, for those patients who are candidates for Rocklatan, Rhopressa is available while Rocklatan is waiting to get on formulary.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.7% and a 48.2% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aerie Pharma with a $81.67 average price target, implying a 96.6% upside from current levels. In a report released yesterday, Oppenheimer also initiated coverage with 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 September 30, the company reported a quarterly GAAP net loss of $85.39 million. In comparison, last year the company had a GAAP net loss of $32.37 million.
Based on the recent corporate insider activity of 38 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.
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