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Needham analyst Serge Belanger maintained a Buy rating on Aerie Pharma (AERI) today and set a price target of $38.00. The company’s shares closed last Wednesday at $15.34, close to its 52-week low of $10.81.
According to TipRanks.com, Belanger is a 3-star analyst with an average return of 1.6% and a 41.5% 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 $34.44 average price target, which is a 144.3% upside from current levels. In a report issued on April 17, Mizuho Securities also maintained a Buy rating on the stock with a $34.00 price target.
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Based on Aerie Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $24.66 million and GAAP net loss of $55.06 million. In comparison, last year the company earned revenue of $14.46 million and had a GAAP net loss of $51.46 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AERI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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