Aerie Pharmaceuticals Inc. (NASDAQ:AERI) shares shot up 11.7% on Tuesday . The company traded as high as $38.74 and last traded at $38.10, with a volume of 3,003,088 shares. The stock had previously closed at $34.12.

A number of brokerages recently weighed in on AERI. Zacks Investment Research lowered Aerie Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Stifel Nicolaus upped their price objective on Aerie Pharmaceuticals from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. Brean Capital reaffirmed a “buy” rating and set a $48.00 price objective on shares of Aerie Pharmaceuticals in a report on Wednesday, September 7th. HC Wainwright started coverage on Aerie Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $66.00 target price on the stock. Finally, Raymond James Financial Inc. started coverage on Aerie Pharmaceuticals in a research report on Tuesday, September 13th. They set an “outperform” rating and a $48.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $49.40.

The stock’s 50 day moving average is $20.33 and its 200 day moving average is $16.95. The company’s market cap is $1.06 billion.

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Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.02. Analysts anticipate that Aerie Pharmaceuticals Inc. will post ($2.77) EPS for the current fiscal year.

In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. bought 250,000 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were purchased at an average price of $17.50 per share, with a total value of $4,375,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.77% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of Aerie Pharmaceuticals by 3.4% in the second quarter. Barclays PLC now owns 6,015 shares of the company’s stock valued at $106,000 after buying an additional 200 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Aerie Pharmaceuticals by 15.0% in the second quarter. BlackRock Advisors LLC now owns 12,310 shares of the company’s stock valued at $217,000 after buying an additional 1,608 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Aerie Pharmaceuticals during the second quarter valued at $219,000. American International Group Inc. increased its stake in shares of Aerie Pharmaceuticals by 8.5% in the second quarter. American International Group Inc. now owns 13,864 shares of the company’s stock valued at $244,000 after buying an additional 1,082 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Aerie Pharmaceuticals by 17.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 15,900 shares of the company’s stock valued at $286,000 after buying an additional 2,400 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

Aerie Pharmaceuticals Company Profile

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

5 Day Chart for NASDAQ:AERI

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