Needham Sticks to Its Buy Rating for Aerie Pharma

By Jason Carr

In a report released today, Serge Belanger from Needham reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI), with a price target of $65. The company’s shares closed yesterday at $40.50.

According to, Belanger is a 2-star analyst with an average return of 0.2% and a 35.6% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Adamas Pharmaceuticals, and Amag Pharmaceuticals.

Currently, the analyst consensus on Aerie Pharma is Strong Buy and the average price target is $62.29, representing a 53.8% upside.

In a report issued on May 15, Aegis Capital also reiterated a Buy rating on the stock with a $63 price target.

Based on Aerie Pharma’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and GAAP net loss of $25.79 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $22.7 million.

Based on the recent corporate insider activity of 21 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. Last month, Gerald Cagle, a Director at AERI bought 2,000 shares for a total of $83,400.

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Aerie Pharmaceuticals, Inc. is a clinical stage pharmaceutical company. It focuses on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The company’s product candidates are Rhopressa and Roclatan. Aerie Pharmaceuticals 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.