Aerie Pharma Receives a Buy from Canaccord Genuity

Canaccord Genuity analyst John Newman reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI) yesterday and set a price target of $50. The company’s shares opened today at $34.43, close to its 52-week high of $34.69.

According to TipRanks.com, Newman is ranked 0 out of 5 stars with an average return of -13.0% and a 32.3% success rate. Newman covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, Hutchison China MediTech Ltd, and Dimension Therapeutics Inc.

Currently, the analyst consensus on Aerie Pharma is Strong Buy and the average price target is $44, representing a 27.8% upside.

In a report issued on September 7, Brean Capital also reiterated a Buy rating on the stock with a $48 price target.

The company has a one year high of $34.69 and a one year low of $10.82. Currently, Aerie Pharma has an average volume of 450.8k.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AERI in relation to earlier this year.

Aerie Pharmaceuticals, Inc. is a clinical stage pharmaceutical company, which is focused on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. It product candidates are Rhopressa and Roclatan. 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 Irvine, CA.