Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) Given Consensus Rating of “Buy” by Brokerages
Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) has earned a consensus recommendation of “Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $65.69.
Several analysts have issued reports on the company. Cowen and Company set a $100.00 target price on Aerie Pharmaceuticals and gave the company a “buy” rating in a report on Friday, May 26th. Needham & Company LLC upped their target price on Aerie Pharmaceuticals from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 25th. JMP Securities reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Aerie Pharmaceuticals in a research note on Friday, March 31st. BidaskClub lowered Aerie Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $62.00 price target (up previously from $56.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, July 20th.
In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. sold 20,000 shares of Aerie Pharmaceuticals stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $55.95, for a total value of $1,119,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.36% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Aerie Pharmaceuticals by 113,376.8% in the first quarter. BlackRock Inc. now owns 2,600,888 shares of the company’s stock valued at $117,951,000 after buying an additional 2,598,596 shares in the last quarter. State Street Corp boosted its stake in Aerie Pharmaceuticals by 36.9% in the fourth quarter. State Street Corp now owns 820,644 shares of the company’s stock valued at $31,059,000 after buying an additional 221,146 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Aerie Pharmaceuticals by 813.5% in the second quarter. Russell Investments Group Ltd. now owns 232,610 shares of the company’s stock valued at $12,223,000 after buying an additional 207,146 shares in the last quarter. FMR LLC boosted its stake in Aerie Pharmaceuticals by 178.7% in the first quarter. FMR LLC now owns 320,500 shares of the company’s stock valued at $14,535,000 after buying an additional 205,500 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Aerie Pharmaceuticals by 7.1% in the first quarter. Vanguard Group Inc. now owns 1,392,525 shares of the company’s stock valued at $63,151,000 after buying an additional 92,463 shares in the last quarter. 92.01% of the stock is owned by institutional investors and hedge funds.
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Aerie Pharmaceuticals (NASDAQ:AERI) traded down 2.86% on Tuesday, hitting $55.95. 348,425 shares of the company were exchanged. Aerie Pharmaceuticals has a 52-week low of $16.61 and a 52-week high of $59.50. The stock’s market capitalization is $1.88 billion. The stock’s 50-day moving average price is $53.99 and its 200-day moving average price is $46.83.
Aerie Pharmaceuticals (NASDAQ:AERI) last issued its earnings results on Tuesday, May 2nd. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by $0.02. On average, equities research analysts anticipate that Aerie Pharmaceuticals will post ($2.57) earnings per share for the current fiscal year.
About Aerie Pharmaceuticals
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 product candidates include Rhopressa (netarsudil ophthalmic solution) 0.02% (Rhopressa), and Roclatan (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005% (Roclatan).
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