Aerie Pharmaceuticals (NASDAQ:AERI) has been given a $63.00 price target by investment analysts at Mizuho in a note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s target price would indicate a potential upside of 185.20% from the stock’s current price.
A number of other brokerages also recently weighed in on AERI. Canaccord Genuity set a $56.00 price objective on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, June 11th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price target on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Citigroup reaffirmed an “outperform” rating and issued a $45.00 price target (down from $65.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Zacks Investment Research raised shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a research note on Friday, June 28th. Finally, JMP Securities reduced their price target on shares of Aerie Pharmaceuticals from $58.00 to $52.00 and set a “market outperform” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $58.83.
Aerie Pharmaceuticals stock traded down $1.02 during midday trading on Friday, hitting $22.09. 1,212,286 shares of the stock were exchanged, compared to its average volume of 1,227,556. Aerie Pharmaceuticals has a 1 year low of $18.02 and a 1 year high of $63.20. The firm has a market cap of $1.06 billion, a P/E ratio of -4.75 and a beta of 0.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.52 and a quick ratio of 2.35. The company has a 50 day moving average price of $22.20 and a two-hundred day moving average price of $34.20.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.07. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 89.52%. The firm had revenue of $15.84 million for the quarter, compared to the consensus estimate of $14.60 million. As a group, analysts predict that Aerie Pharmaceuticals will post -3.49 EPS for the current year.
In other news, CFO Richard J. Rubino purchased 5,040 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $19.93 per share, for a total transaction of $100,447.20. Following the completion of the acquisition, the chief financial officer now directly owns 339,446 shares of the company’s stock, valued at $6,765,158.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vicente Anido, Jr. purchased 26,250 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $19.01 per share, for a total transaction of $499,012.50. Following the acquisition, the chief executive officer now directly owns 195,631 shares of the company’s stock, valued at $3,718,945.31. The disclosure for this purchase can be found here. Insiders have bought 562,698 shares of company stock worth $13,088,866 in the last 90 days. 8.71% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AERI. Geode Capital Management LLC grew its position in Aerie Pharmaceuticals by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 435,883 shares of the company’s stock worth $15,735,000 after acquiring an additional 20,539 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Aerie Pharmaceuticals by 711.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the company’s stock worth $403,000 after acquiring an additional 7,437 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in Aerie Pharmaceuticals by 185.9% in the first quarter. Frontier Capital Management Co. LLC now owns 325,572 shares of the company’s stock worth $15,465,000 after acquiring an additional 211,699 shares in the last quarter. Asymmetry Capital Management L.P. grew its position in Aerie Pharmaceuticals by 24.7% in the first quarter. Asymmetry Capital Management L.P. now owns 71,675 shares of the company’s stock worth $3,405,000 after acquiring an additional 14,189 shares in the last quarter. Finally, Laurion Capital Management LP bought a new stake in Aerie Pharmaceuticals in the first quarter worth approximately $1,851,000.
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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