Needham Issues a Buy Rating on Aerie Pharma (AERI)

In a report released today, Serge Belanger from Needham assigned a Buy rating to Aerie Pharma (AERIResearch Report), with a price target of $26.00. The company’s shares closed last Friday at $15.50.

According to TipRanks.com, Belanger is a 4-star analyst with an average return of 6.2% and a 46.3% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Collegium Pharmaceutical, and KalVista Pharmaceuticals.

Aerie Pharma has an analyst consensus of Strong Buy, with a price target consensus of $27.25, a 74.1% upside from current levels. In a report issued on May 28, Mizuho Securities also maintained a Buy rating on the stock with a $28.00 price target.

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Based on Aerie Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $22.97 million and GAAP net loss of $41.96 million. In comparison, last year the company earned revenue of $20.34 million and had a GAAP net loss of $49.13 million.

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Aerie Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of therapies for the treatment of patients with open-angle glaucoma, retinal diseases and other diseases of the eye. Its products include Rhopressa, Roclatan, AR-13503, and AR-1105. 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 Durham, NC.