“We are lowering our price target from $87 to $77 per share by reducing the M&A premium in our valuation. We don’t expect a M&A transaction to occur during the launch phase of a drug and therefore no longer expect an imminent M&A transaction. We maintain our Buy rating on the stock and continue to have confidence that management can successfully execute on the launch of Aerie’s high-quality assets and add value in the glaucoma space, which has not seen major innovation in twenty years.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 20.9% and a 50.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $82.
Based on Aerie Pharma’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $0 and GAAP net loss of $58.51 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $25.79 million.
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Aerie Pharmaceuticals, Inc. is a clinical stage pharmaceutical company. It focuses on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The company’s product candidates are Rhopressa and Roclatan. Aerie Pharmaceuticals was founded by David L. Epstein, Casey C.