Canaccord Genuity Assigned a Buy Rating to Aerie Pharma

In a report released today, John Newman from Canaccord Genuity assigned a Buy rating to Aerie Pharma (NASDAQ: AERI), with a price target of $50. The company’s shares closed yesterday at $38.80, close to its 52-week high of $43.40.

According to TipRanks.com, Newman is ranked 0 out of 5 stars with an average return of -14.5% and a 31.1% success rate. Newman covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, Hutchison China MediTech Ltd, and Dimension Therapeutics Inc.

Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $55.

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 $17.96 million.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock.

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.