Brokerages Set Aerie Pharmaceuticals Inc (NASDAQ:AERI) Price Target at $58.00

Aerie Pharmaceuticals Inc (NASDAQ:AERI) has been assigned an average recommendation of “Buy” from the fifteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $56.73.

AERI has been the topic of a number of recent research reports. Canaccord Genuity set a $56.00 price objective on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Citigroup reissued an “outperform” rating and set a $45.00 price objective (down previously from $65.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Zacks Investment Research raised Aerie Pharmaceuticals from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a research note on Friday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price target (down previously from $74.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Finally, ValuEngine raised Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

In other news, major shareholder Foresite Capital Management Ii acquired 189,555 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $24.43 per share, for a total transaction of $4,630,828.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders bought 393,402 shares of company stock worth $9,516,618. Corporate insiders own 8.71% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Aerie Pharmaceuticals by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,188,446 shares of the company’s stock worth $123,769,000 after purchasing an additional 79,985 shares during the period. BlackRock Inc. increased its holdings in Aerie Pharmaceuticals by 11.0% during the 2nd quarter. BlackRock Inc. now owns 3,358,901 shares of the company’s stock worth $99,255,000 after purchasing an additional 331,884 shares during the period. Waddell & Reed Financial Inc. increased its holdings in Aerie Pharmaceuticals by 14.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,737,627 shares of the company’s stock worth $51,347,000 after purchasing an additional 224,655 shares during the period. Jennison Associates LLC increased its holdings in Aerie Pharmaceuticals by 13.6% during the 1st quarter. Jennison Associates LLC now owns 1,344,999 shares of the company’s stock worth $63,887,000 after purchasing an additional 161,538 shares during the period. Finally, FMR LLC increased its holdings in Aerie Pharmaceuticals by 0.4% during the 4th quarter. FMR LLC now owns 978,953 shares of the company’s stock worth $35,340,000 after purchasing an additional 3,950 shares during the period.

NASDAQ AERI traded up $1.85 on Wednesday, reaching $24.35. 706,931 shares of the company were exchanged, compared to its average volume of 709,417. The business’s fifty day moving average price is $23.71 and its 200 day moving average price is $36.48. The stock has a market capitalization of $1.07 billion, a P/E ratio of -5.24 and a beta of 0.41. The company has a current ratio of 2.52, a quick ratio of 2.35 and a debt-to-equity ratio of 0.08. Aerie Pharmaceuticals has a fifty-two week low of $20.72 and a fifty-two week high of $64.25.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.80) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.07. The company had revenue of $15.84 million for the quarter, compared to analyst estimates of $14.60 million. Aerie Pharmaceuticals had a negative return on equity of 89.52% and a negative net margin of 478.81%. Equities research analysts forecast that Aerie Pharmaceuticals will post -3.48 earnings per share for the current year.

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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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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