Aerie Pharmaceuticals (NASDAQ:AERI) had its price target lowered by analysts at Piper Jaffray Companies from $53.00 to $48.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 149.61% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Cowen reissued an “outperform” rating and set a $50.00 target price (down from $105.00) on shares of Aerie Pharmaceuticals in a research report on Thursday. Citigroup reissued an “outperform” rating and set a $45.00 target price (down from $65.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Cantor Fitzgerald lowered their target price on shares of Aerie Pharmaceuticals from $62.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Aerie Pharmaceuticals in a research report on Friday, October 25th. Finally, HC Wainwright lowered their target price on shares of Aerie Pharmaceuticals from $55.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.92.
Aerie Pharmaceuticals stock traded up $0.75 during mid-day trading on Thursday, hitting $19.23. 2,084,600 shares of the company’s stock were exchanged, compared to its average volume of 892,659. The company has a current ratio of 2.52, a quick ratio of 2.35 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.09 billion, a P/E ratio of -4.14 and a beta of 0.51. Aerie Pharmaceuticals has a 1-year low of $17.51 and a 1-year high of $50.10. The stock has a 50 day moving average of $21.11 and a two-hundred day moving average of $27.48.
Aerie Pharmaceuticals (NASDAQ:AERI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.86) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.02). The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $17.59 million. Aerie Pharmaceuticals had a negative return on equity of 89.52% and a negative net margin of 478.81%. As a group, research analysts predict that Aerie Pharmaceuticals will post -3.61 EPS for the current fiscal year.
In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Management Ii purchased 100,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $23.73 per share, with a total value of $2,373,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foresite Capital Fund Ii, L.P. purchased 46,153 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $23.45 per share, for a total transaction of $1,082,287.85. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 562,698 shares of company stock worth $13,088,866. 8.71% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Atria Investments LLC bought a new stake in shares of Aerie Pharmaceuticals in the second quarter valued at about $811,000. Putnam Investments LLC lifted its stake in shares of Aerie Pharmaceuticals by 15.5% in the second quarter. Putnam Investments LLC now owns 62,113 shares of the company’s stock valued at $1,836,000 after buying an additional 8,322 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Aerie Pharmaceuticals in the second quarter valued at about $1,440,000. GSA Capital Partners LLP bought a new stake in shares of Aerie Pharmaceuticals in the second quarter valued at about $715,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Aerie Pharmaceuticals in the second quarter valued at about $134,000.
Aerie Pharmaceuticals Company Profile
Aerie Pharmaceuticals, Inc, an ophthalmic pharmaceutical company, focuses on the discovery, development, and commercialization of first-in-class therapies for the treatment of glaucoma, retinal diseases, and other eye diseases. Its lead product is Rhopressa, a once-daily eye drop to reduce elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
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