Aerie Pharmaceuticals (NASDAQ:AERI) Shares Up 5.4%

Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) shot up 5.4% during trading on Monday . The stock traded as high as $22.67 and last traded at $22.48, 924,290 shares were traded during trading. An increase of 8% from the average session volume of 854,884 shares. The stock had previously closed at $21.32.

Several research firms have commented on AERI. JMP Securities lowered their price objective on shares of Aerie Pharmaceuticals from $58.00 to $52.00 and set a “market outperform” rating for the company in a research report on Thursday, August 8th. Citigroup restated an “outperform” rating and issued a $45.00 target price (down previously from $65.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of Aerie Pharmaceuticals in a report on Friday. BidaskClub lowered shares of Aerie Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, October 11th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Aerie Pharmaceuticals in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Aerie Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $58.83.

The business’s 50 day moving average is $20.91 and its 200 day moving average is $28.42. The company has a market capitalization of $955.31 million, a price-to-earnings ratio of -4.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.52.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, August 7th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.07. The company had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $14.60 million. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 89.52%. Sell-side analysts predict that Aerie Pharmaceuticals Inc will post -3.59 EPS for the current year.

In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Management Ii acquired 189,555 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $24.43 per share, for a total transaction of $4,630,828.65. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vicente Anido, Jr. acquired 26,250 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were acquired at an average price of $19.01 per share, with a total value of $499,012.50. Following the completion of the purchase, the chief executive officer now owns 195,631 shares in the company, valued at approximately $3,718,945.31. The disclosure for this purchase can be found here. Insiders purchased a total of 562,698 shares of company stock valued at $13,088,866 over the last quarter. 8.71% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in Aerie Pharmaceuticals in the 2nd quarter worth $276,000. Harvey Capital Management Inc. purchased a new stake in shares of Aerie Pharmaceuticals in the second quarter valued at about $661,000. Creative Planning grew its holdings in shares of Aerie Pharmaceuticals by 14.3% in the second quarter. Creative Planning now owns 30,340 shares of the company’s stock valued at $897,000 after purchasing an additional 3,785 shares during the period. Granite Point Capital Management L.P. grew its holdings in shares of Aerie Pharmaceuticals by 71.0% in the second quarter. Granite Point Capital Management L.P. now owns 31,800 shares of the company’s stock valued at $940,000 after purchasing an additional 13,200 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in shares of Aerie Pharmaceuticals by 20.6% in the second quarter. Dupont Capital Management Corp now owns 17,845 shares of the company’s stock valued at $527,000 after purchasing an additional 3,048 shares during the period.

Aerie Pharmaceuticals Company Profile (NASDAQ:AERI)

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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