Zacks Investment Research upgraded shares of Aerie Pharmaceuticals (NASDAQ:AERI) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $12.00 price target on the stock.
According to Zacks, “Aerie’s earnings and revenues missed estimates in Q2. The company's impressive portfolio of ophthalmology drugs, namely Rhopressa and Rocklatan have been performing steadily. Rhopressa is a once-daily formulation for IOP in patients suffering open-angle glaucoma and ocular hypertension while Rocklatan is a once-daily, quadruple-action, fixed-dose combination of Rhopressa and Xalatan. Volumes gradually picked up for both drugs after starting on a slow note. The company’s efforts to develop other ophthalmology drugs are encouraging and a positive outcome should boost growth. While the target market shows potential, Aerie faces stiff competition from other drugs like Lumigan and Vyzulta among others, which can affect its sales. Aerie's shares have underperformed the industry year to date.”
Several other research analysts also recently commented on the stock. Raymond James reaffirmed a hold rating on shares of Aerie Pharmaceuticals in a research note on Tuesday, September 8th. Piper Sandler cut their price target on shares of Aerie Pharmaceuticals from $35.00 to $25.00 in a report on Friday, August 7th. Oppenheimer assumed coverage on shares of Aerie Pharmaceuticals in a report on Friday, May 29th. They issued a buy rating and a $24.00 price target on the stock. Guggenheim assumed coverage on shares of Aerie Pharmaceuticals in a report on Tuesday, September 8th. They set a buy rating and a $20.00 target price on the stock. Finally, BidaskClub upgraded shares of Aerie Pharmaceuticals from a strong sell rating to a sell rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $28.07.
AERI stock opened at $11.55 on Tuesday. The firm has a 50 day moving average of $11.69 and a 200-day moving average of $13.82. The company has a current ratio of 3.73, a quick ratio of 3.51 and a debt-to-equity ratio of 2.22. Aerie Pharmaceuticals has a 12 month low of $10.22 and a 12 month high of $26.26. The firm has a market capitalization of $517.24 million, a P/E ratio of -2.61 and a beta of 0.82.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.04). The firm had revenue of $18.03 million during the quarter, compared to the consensus estimate of $18.65 million. Aerie Pharmaceuticals had a negative net margin of 247.36% and a negative return on equity of 107.42%. Sell-side analysts predict that Aerie Pharmaceuticals will post -3.72 EPS for the current year.
Several institutional investors have recently modified their holdings of AERI. Wellington Management Group LLP lifted its stake in shares of Aerie Pharmaceuticals by 7.9% during the 1st quarter. Wellington Management Group LLP now owns 6,736,222 shares of the company’s stock valued at $90,939,000 after buying an additional 495,181 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Aerie Pharmaceuticals by 50.5% during the 2nd quarter. Bank of America Corp DE now owns 2,224,290 shares of the company’s stock valued at $32,830,000 after buying an additional 746,310 shares in the last quarter. Levin Capital Strategies L.P. increased its holdings in Aerie Pharmaceuticals by 16.4% in the 2nd quarter. Levin Capital Strategies L.P. now owns 1,747,101 shares of the company’s stock valued at $25,787,000 after acquiring an additional 246,344 shares during the last quarter. Fred Alger Management LLC increased its holdings in Aerie Pharmaceuticals by 30.5% in the 1st quarter. Fred Alger Management LLC now owns 1,396,982 shares of the company’s stock valued at $18,859,000 after acquiring an additional 326,190 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Aerie Pharmaceuticals in the 2nd quarter valued at $20,281,000.
About Aerie Pharmaceuticals
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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