Aerie Pharmaceuticals (AERI) Upgraded by Zacks Investment Research to Hold

Aerie Pharmaceuticals (NASDAQ:AERI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Aerie received a significant boost with the recent approval of lead drug Rhopressa.The approval came ahead of the PDUFA date in Feb. The approval will significantly boost Aerie's prospects as glaucoma is one of the largest segments in the global ophthalmic market.  Aerie is also evaluating Roclatan, a once-daily, quadruple-action fixed-dose combination of Rhopressa and Xalatan. However, Rhopressa faces stiff competition from established branded and generic pharmaceutical companies, such as Novartis’ Simbrinza and Travtan, and Allergan’s Lumigan, as well as other smaller biotechnology and pharmaceutical companies. Valeant Pharmaceutical’s Vyzulta was recently approved for open-angle glaucoma or ocular hypertension. Rhopressa will face a tough time in gaining market share due to competition from these products. Aerie’s shares have outperformed the industry in the last one year.”

AERI has been the topic of a number of other research reports. Mizuho reiterated a “buy” rating and issued a $70.00 price target on shares of Aerie Pharmaceuticals in a report on Wednesday, October 25th. Guggenheim assumed coverage on shares of Aerie Pharmaceuticals in a report on Monday, October 23rd. They issued a “buy” rating and a $80.00 price target on the stock. Canaccord Genuity reiterated a “positive” rating and issued a $73.00 price target (up previously from $65.00) on shares of Aerie Pharmaceuticals in a report on Monday, October 16th. JMP Securities set a $68.00 price target on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, Cowen reiterated a “buy” rating on shares of Aerie Pharmaceuticals in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Aerie Pharmaceuticals has a consensus rating of “Buy” and an average price target of $72.00.

Shares of Aerie Pharmaceuticals (NASDAQ AERI) traded up $0.65 on Monday, hitting $59.95. 421,270 shares of the company’s stock were exchanged, compared to its average volume of 337,465. The firm has a market cap of $2,200.00, a price-to-earnings ratio of -17.90 and a beta of 1.11. Aerie Pharmaceuticals has a 52 week low of $38.14 and a 52 week high of $66.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 15.24 and a current ratio of 15.24.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.89) earnings per share for the quarter. equities research analysts anticipate that Aerie Pharmaceuticals will post -3.94 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its stake in shares of Aerie Pharmaceuticals by 11.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,665 shares of the company’s stock valued at $140,000 after acquiring an additional 275 shares during the period. Quantbot Technologies LP raised its stake in shares of Aerie Pharmaceuticals by 792.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,981 shares of the company’s stock valued at $144,000 after acquiring an additional 2,647 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Aerie Pharmaceuticals by 2,711.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,711 shares of the company’s stock valued at $195,000 after acquiring an additional 3,579 shares during the period. Amalgamated Bank purchased a new position in shares of Aerie Pharmaceuticals in the 2nd quarter valued at $204,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Aerie Pharmaceuticals by 65.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,160 shares of the company’s stock valued at $204,000 after acquiring an additional 1,639 shares during the period.

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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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