Aerie Pharma (AERI) Gets a Buy Rating from Needham

Needham analyst Serge Belanger assigned a Buy rating to Aerie Pharma (AERIResearch Report) today and set a price target of $26.00. The company’s shares closed last Thursday at $11.64, close to its 52-week low of $10.22.

According to TipRanks.com, Belanger is a 1-star analyst with an average return of -1.4% and a 35.2% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, KalVista Pharmaceuticals, and Collegium Pharmaceutical.

Currently, the analyst consensus on Aerie Pharma is a Strong Buy with an average price target of $27.50, a 144.1% upside from current levels. In a report issued on September 12, Mizuho Securities also maintained a Buy rating on the stock with a $27.00 price target.

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Based on Aerie Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $20.34 million and GAAP net loss of $49.13 million. In comparison, last year the company earned revenue of $15.84 million and had a GAAP net loss of $47.16 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.