Aerie Pharma (AERI) Received its Third Buy in a Row

After Needham and Cantor Fitzgerald 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 $54.00. The company’s shares closed last Monday at $18.50, close to its 52-week low of $17.51.

According to TipRanks.com, Yang is ranked 0 out of 5 stars with an average return of -6.0% and a 32.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Audentes Therapeutics, Xeris Pharmaceuticals, and Revance Therapeutics.

Currently, the analyst consensus on Aerie Pharma is a Strong Buy with an average price target of $42.43, implying a 131.2% upside from current levels. In a report issued on November 1, Needham also assigned a Buy rating to the stock with a $48.00 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 $49.4 million. In comparison, last year the company had a GAAP net loss of $85.39 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AERI in relation to earlier this year.

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Aerie Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of therapies for the treatment of patients with open-angle glaucoma, retinal diseases and other diseases of the eye. Its products include Rhopressa, Roclatan, AR-13503, and AR-1105.