Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Aerie received a significant boost with the recent approval of lead drug Rhopressa. 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. Earlier, Aerie had to withdraw its NDA in the United States submitted in 2016 as a third-party manufacturing facility in Tampa, FL, not being ready for pre-approval inspection. Any such delays for other candidate Roclatan will be a setback. Aerie’s shares have underperformed the industry in the last six months. “
A number of other equities research analysts also recently issued reports on AERI. Guggenheim started coverage on Aerie Pharmaceuticals in a research report on Monday, October 23rd. They set a “buy” rating and a $80.00 price target on the stock. Mizuho reissued a “buy” rating on shares of Aerie Pharmaceuticals in a research report on Friday, November 3rd. BidaskClub raised Aerie Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Cantor Fitzgerald reissued a “buy” rating and set a $62.00 price target on shares of Aerie Pharmaceuticals in a research report on Wednesday, October 11th. Finally, Cowen reissued a “buy” rating on shares of Aerie Pharmaceuticals in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.27.
Aerie Pharmaceuticals (NASDAQ:AERI) last announced its earnings results on Wednesday, November 8th. The company reported ($0.89) earnings per share for the quarter. research analysts predict that Aerie Pharmaceuticals will post -3.97 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of AERI. Ameritas Investment Partners Inc. boosted its holdings 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 purchasing an additional 275 shares in the last quarter. Quantbot Technologies LP boosted its holdings 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 purchasing an additional 2,647 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Aerie Pharmaceuticals in the 2nd quarter valued at $204,000. Great West Life Assurance Co. Can boosted its holdings 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 purchasing an additional 1,639 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Aerie Pharmaceuticals in the 3rd quarter valued at $204,000.
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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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