Aerie Pharmaceuticals, Inc. (AERI) PT Set at $65.00 by Canaccord Genuity
Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) has been given a $65.00 price objective by research analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 1.09% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on AERI. BidaskClub cut Aerie Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Stifel Nicolaus boosted their price target on Aerie Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Zacks Investment Research cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $62.00 price target (up from $56.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, July 20th. Finally, HC Wainwright set a $69.00 price target on Aerie Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $67.46.
Shares of Aerie Pharmaceuticals (AERI) traded up 16.17% during mid-day trading on Wednesday, hitting $64.30. The company’s stock had a trading volume of 3,766,593 shares. Aerie Pharmaceuticals has a 1-year low of $32.05 and a 1-year high of $65.89. The company has a 50-day moving average of $54.52 and a 200 day moving average of $50.51. The company’s market cap is $2.34 billion.
Aerie Pharmaceuticals (NASDAQ:AERI) last posted its earnings results on Tuesday, August 1st. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.02. On average, analysts expect that Aerie Pharmaceuticals will post ($2.59) EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in Aerie Pharmaceuticals during the first quarter worth $107,000. Ameritas Investment Partners Inc. bought a new stake in Aerie Pharmaceuticals during the first quarter worth $108,000. BNP Paribas Arbitrage SA lifted its stake in Aerie Pharmaceuticals by 2,711.4% during the second quarter. BNP Paribas Arbitrage SA now owns 3,711 shares of the company’s stock worth $195,000 after purchasing an additional 3,579 shares during the last quarter. Amalgamated Bank bought a new stake in Aerie Pharmaceuticals during the second quarter worth $204,000. Finally, Palisade Capital Management LLC NJ bought a new stake in Aerie Pharmaceuticals during the second quarter worth $212,000. Hedge funds and other institutional investors own 94.64% of the company’s stock.
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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