According to The Fly, in a report released yesterday, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI), with a price target of $44. The company’s shares closed yesterday at $18.85.
Piros noted, “Narrowed Range. Aerie indicated that the much awaited Mercury 1 results will be announced in 3Q:16, in September. Roclatan is a combination of novel drug Rhopressa and standard of care latanoprost. Safety and efficacy will be evaluated in a three-month trial with this combination of eye drops. Rocket 4, a Phase III trial with Rhopressa, will mature by 4Q:16. This study aims to satisfy safety requirements for an eventual European regulatory submission.”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -15.5% and a 35.8% success rate. Piros covers the Healthcare sector, focusing on stocks such as Dimension Therapeutics Inc, Conatus Pharmaceuticals, and Galmed Pharmaceuticals.
Aerie Pharma has an analyst consensus of Strong Buy
The company has a one year high of $33.25 and a one year low of $10.82. Currently, Aerie Pharma has an average volume of 359.1k.
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.