Aegis Capital Believes AERI Won’t Stop Here

By Carrie Williams

Aegis Capital analyst Difei Yang reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI) on March 8 and set a price target of $63. The company’s shares opened today at $47.90, close to its 52-week high of $51.85.

According to TipRanks.com, Yang is a 4-star analyst with an average return of 8.3% and a 45.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Protalix Biotherapeutics, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Aerie Pharma is Strong Buy and the average price target is $62.33, representing a 30.1% 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 December 31, the company posted quarterly revenue of $0 and GAAP net loss of $29.32 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.