In a report released today, Serge Belanger from Needham maintained a Buy rating on Aerie Pharma (AERI – Research Report), with a price target of $22.00. The company’s shares closed last Thursday at $7.11, close to its 52-week low of $6.67.
According to TipRanks.com, Belanger is a 2-star analyst with an average return of 0.4% and a 38.4% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Clarus Therapeutics Holdings, Amphastar Pharmaceuticals, and Collegium Pharmaceutical.
Currently, the analyst consensus on Aerie Pharma is a Strong Buy with an average price target of $18.00, which is a 153.2% upside from current levels. In a report issued on January 14, Stifel Nicolaus also maintained a Buy rating on the stock with a $27.00 price target.
Based on Aerie Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $29.31 million and GAAP net loss of $39.69 million. In comparison, last year the company earned revenue of $20.08 million and had a GAAP net loss of $39.65 million.
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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.
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