Aerie Pharmaceuticals, Inc. (AERI) Given Average Rating of “Buy” by Brokerages
Shares of Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) have been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $66.08.
AERI has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $69.00 target price on shares of Aerie Pharmaceuticals in a research report on Wednesday, May 3rd. Stifel Nicolaus increased their price target on shares of Aerie Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Canaccord Genuity set a $56.00 price target on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, May 22nd. ValuEngine upgraded shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th.
Aerie Pharmaceuticals (AERI) traded down 3.19% on Friday, hitting $53.05. 389,629 shares of the stock traded hands. The company’s 50 day moving average price is $54.36 and its 200-day moving average price is $48.37. Aerie Pharmaceuticals has a 12-month low of $18.52 and a 12-month high of $59.50. The stock’s market capitalization is $1.93 billion.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Tuesday, August 1st. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. Analysts predict that Aerie Pharmaceuticals will post ($2.56) EPS for the current year.
In related news, major shareholder Foresite Capital Fund Ii, L.P. sold 20,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $55.95, for a total transaction of $1,119,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.36% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC boosted its stake in Aerie Pharmaceuticals by 23.9% in the fourth quarter. Teachers Advisors LLC now owns 47,324 shares of the company’s stock worth $1,791,000 after buying an additional 9,127 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in Aerie Pharmaceuticals by 49.3% in the first quarter. Fox Run Management L.L.C. now owns 9,558 shares of the company’s stock worth $433,000 after buying an additional 3,158 shares during the last quarter. Columbus Circle Investors boosted its stake in Aerie Pharmaceuticals by 20.8% in the first quarter. Columbus Circle Investors now owns 282,309 shares of the company’s stock worth $12,803,000 after buying an additional 48,689 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Aerie Pharmaceuticals by 29.9% in the first quarter. First Mercantile Trust Co. now owns 7,031 shares of the company’s stock worth $319,000 after buying an additional 1,620 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Aerie Pharmaceuticals by 22.1% in the first quarter. Wells Fargo & Company MN now owns 26,273 shares of the company’s stock worth $1,191,000 after buying an additional 4,758 shares during the last quarter. 87.74% of the stock is owned by institutional investors and hedge funds.
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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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