Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) Receives Consensus Recommendation of “Hold” from Analysts

Aerie Pharmaceuticals, Inc. (NASDAQ:AERIGet Rating) has earned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.63.

A number of equities analysts have recently issued reports on AERI shares. Citigroup lowered shares of Aerie Pharmaceuticals from a “buy” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $15.25 in a research report on Monday, August 29th. Needham & Company LLC downgraded Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. HC Wainwright cut Aerie Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 24th. Truist Financial cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Finally, Stifel Nicolaus cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Tuesday, August 23rd.

Institutional Trading of Aerie Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AERI. Bank of America Corp DE lifted its stake in shares of Aerie Pharmaceuticals by 17.7% in the 1st quarter. Bank of America Corp DE now owns 2,770,652 shares of the company’s stock valued at $25,212,000 after purchasing an additional 416,759 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in Aerie Pharmaceuticals by 9.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 1,844,627 shares of the company’s stock worth $13,835,000 after acquiring an additional 166,018 shares in the last quarter. Granahan Investment Management LLC lifted its position in Aerie Pharmaceuticals by 28.3% during the 1st quarter. Granahan Investment Management LLC now owns 1,588,944 shares of the company’s stock worth $14,459,000 after acquiring an additional 350,061 shares in the last quarter. Levin Capital Strategies L.P. lifted its position in Aerie Pharmaceuticals by 75.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,435,876 shares of the company’s stock worth $13,066,000 after acquiring an additional 618,499 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Aerie Pharmaceuticals by 1.5% during the 4th quarter. Schroder Investment Management Group now owns 1,352,954 shares of the company’s stock worth $9,498,000 after acquiring an additional 19,990 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Aerie Pharmaceuticals Stock Performance

AERI stock opened at $15.14 on Friday. The company’s 50 day moving average price is $11.87 and its 200 day moving average price is $9.06. Aerie Pharmaceuticals has a fifty-two week low of $4.81 and a fifty-two week high of $15.37. The firm has a market capitalization of $747.31 million, a price-to-earnings ratio of -14.15 and a beta of -0.06.

Aerie Pharmaceuticals (NASDAQ:AERIGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.20. The company had revenue of $33.31 million during the quarter, compared to analysts’ expectations of $32.47 million. During the same quarter in the prior year, the company earned ($0.67) earnings per share. Equities analysts forecast that Aerie Pharmaceuticals will post -1.97 EPS for the current fiscal year.

About Aerie Pharmaceuticals

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Aerie Pharmaceuticals, Inc, a pharmaceutical company, focuses on the discovery, development, and commercialization of ophthalmic therapies for open-angle glaucoma, dry eye, diabetic macular edema, and wet age-related macular degeneration in the United States. Its products include Rhopressa, a once-daily eye drop to reduce elevated intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension; and Rocklatan, a once-daily fixed-dose combination of Rhopressa and latanopros to reduce IOP to treat patients with open-angle glaucoma or ocular hypertension.

Further Reading

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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