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

After Oppenheimer and H.C. Wainwright 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 $77. The company’s shares closed yesterday at $40.16.

Yang noted:

“We hosted client meetings on 05/14 with Aerie management. The Rocklatan product launch remains front and center for investors and the uptake has potential to be faster compared to Rhopressa. On the business development side, management is looking to add a Phase II asset in the dry eye disease space. The recent $3.5 billion NVS/TAK deal for dry eye drug Xiidra highlights the attractive valuation of AERI (~$1.8 billion market cap) – and we continue to see the name as a top pick in 2019. Long-term, management expects ~$1bn in sales for for Rhopressa. (Xiidra 2024 sales estimated at ~ $1bn). Our takeaways are included below.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 10.4% and a 41.4% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.

Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $75.38, an 87.7% upside from current levels. In a report issued on May 1, H.C. Wainwright also maintained a Buy rating on the stock with a $71 price target.

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The company has a one-year high of $74.75 and a one-year low of $32.18. Currently, Aerie Pharma has an average volume of 673.3K.

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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.

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