Needham Thinks Aerie Pharma’s Stock is Going to Recover

In a report released today, Serge Belanger from Needham assigned a Buy rating to Aerie Pharma (AERI), with a price target of $26.00. The company’s shares closed last Friday at $11.66, close to its 52-week low of $10.22.

According to TipRanks.com, Belanger is a 4-star analyst with an average return of 4.3% and a 42.3% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, KalVista Pharmaceuticals, and Collegium Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aerie Pharma with a $27.50 average price target, representing a 131.7% upside. In a report issued on September 8, Guggenheim also initiated coverage with a Buy rating on the stock with a $20.00 price target.

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The company has a one-year high of $26.26 and a one-year low of $10.22. Currently, Aerie Pharma has an average volume of 707.1K.

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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. The company was founded by David L. Epstein, Casey C. Kopczynski, Thomas J. van Haarlem, and Eric J. Toone on June 22, 2005 and is headquartered in Durham, NC.