Aerie Pharmaceuticals (NASDAQ:AERI) had its target price lowered by equities research analysts at Stifel Nicolaus from $77.00 to $45.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 134.01% from the company’s previous close.
A number of other brokerages have also recently issued reports on AERI. ValuEngine cut shares of Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Aerie Pharmaceuticals in a research report on Friday, October 25th. HC Wainwright dropped their target price on shares of Aerie Pharmaceuticals from $55.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday. Piper Jaffray Companies reiterated a “buy” rating on shares of Aerie Pharmaceuticals in a research report on Tuesday, October 15th. Finally, JMP Securities dropped their target price 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.92.
Shares of NASDAQ AERI traded up $0.75 during trading hours on Thursday, hitting $19.23. 2,084,600 shares of the stock were exchanged, compared to its average volume of 892,659. The firm has a market capitalization of $1.09 billion, a P/E ratio of -4.14 and a beta of 0.51. 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’s 50 day moving average is $21.03 and its 200 day moving average is $27.38. Aerie Pharmaceuticals has a one year low of $17.51 and a one year high of $50.10.
In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Management Ii bought 189,555 shares of Aerie Pharmaceuticals stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $24.43 per share, with a total value of $4,630,828.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vicente Anido, Jr. bought 26,250 shares of Aerie Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $19.01 per share, for a total transaction of $499,012.50. Following the purchase, the chief executive officer now directly owns 195,631 shares in the company, valued at approximately $3,718,945.31. The disclosure for this purchase can be found here. Insiders acquired a total of 562,698 shares of company stock valued at $13,088,866 in the last 90 days. Corporate insiders own 8.71% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AERI. Tower Research Capital LLC TRC boosted its stake in shares of Aerie Pharmaceuticals by 2,330.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock valued at $43,000 after purchasing an additional 1,398 shares during the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of Aerie Pharmaceuticals by 173.7% in the 3rd quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock valued at $50,000 after purchasing an additional 1,650 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Aerie Pharmaceuticals in the 2nd quarter valued at about $115,000. Bank of Montreal Can boosted its stake in shares of Aerie Pharmaceuticals by 497.8% in the 2nd quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock valued at $119,000 after purchasing an additional 3,350 shares during the last quarter. Finally, First Mercantile Trust Co. bought a new position in shares of Aerie Pharmaceuticals in the 2nd quarter valued at about $134,000.
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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