UPDATE: SunTrust Starts Aerie Pharma (AERI) at Buy

(updating comment)

SunTrust analyst Gregg Gilbert initiates coverage on Aerie Pharma (NASDAQ: AERI) with a Buy rating and a price target of $32.00.

The analyst comments "Our prescription analysis supports the potential for material share growth in the near to medium term. With valuation and expectations reset, we expect the stock to appreciate as Aerie drives share growth for its glaucoma franchise in 2020 and beyond. The company has a number of intriguing pipeline opportunities that are not factored into our valuation. The business could also be of interest to larger players looking to expand within ophthalmology, in our view."

For an analyst ratings summary and ratings history on Aerie Pharma click here. For more ratings news on Aerie Pharma click here.

Shares of Aerie Pharma closed at $24.56 yesterday.

You May Also Be Interested In

• Wells Fargo Starts Vivmark Residential (VMRK) at Overweight, 'Setting the mark for growth'
• Beike (BEKE) PT Raised to $23 at Morgan Stanley
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson