RBC Capital analyst Adnan Butt reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI) today and set a price target of $55. The company’s shares closed yesterday at $49.95, close to its 52-week high of $50.15.
According to TipRanks.com, Butt is a 4-star analyst with an average return of 7.6% and a 56.2% success rate. Butt covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Intra-Cellular Therapies, and Synthetic Biologics Inc.
Currently, the analyst consensus on Aerie Pharma is Strong Buy and the average price target is $57.33, representing a 14.8% upside.
In a report issued on February 24, Cowen & Co. also initiated coverage with a Buy rating on the stock with a $70 price target.
Based on Aerie Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $23.81 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $20.38 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock.
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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.