Oppenheimer Begins Coverage on Aerie Pharmaceuticals (AERI)

Equities research analysts at Oppenheimer assumed coverage on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research note issued on Monday. The brokerage set a “buy” rating and a $64.00 price target on the stock. Oppenheimer’s price target indicates a potential upside of 54.03% from the company’s previous close.

Several other equities analysts have also issued reports on AERI. BidaskClub lowered shares of Aerie Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Cowen boosted their target price on shares of Aerie Pharmaceuticals from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 9th. ValuEngine lowered shares of Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Mizuho restated a “buy” rating and issued a $77.00 target price on shares of Aerie Pharmaceuticals in a report on Tuesday, November 27th. Finally, Zacks Investment Research upgraded shares of Aerie Pharmaceuticals from a “sell” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $79.25.

Shares of Aerie Pharmaceuticals stock traded up $1.66 during trading on Monday, hitting $41.55. The company’s stock had a trading volume of 444,992 shares, compared to its average volume of 421,615. Aerie Pharmaceuticals has a 52 week low of $38.50 and a 52 week high of $74.75. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -12.33 and a beta of 0.94.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings data on Tuesday, November 6th. The company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.33) by ($0.40). The company had revenue of $7.30 million for the quarter, compared to the consensus estimate of $5.63 million. As a group, equities research analysts anticipate that Aerie Pharmaceuticals will post -5.48 EPS for the current year.

In other news, CFO Richard J. Rubino sold 34,512 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $60.17, for a total transaction of $2,076,587.04. Following the transaction, the chief financial officer now owns 383,738 shares in the company, valued at $23,089,515.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald D. Cagle acquired 2,000 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were bought at an average price of $41.75 per share, for a total transaction of $83,500.00. The disclosure for this purchase can be found here. Insiders have sold 134,117 shares of company stock worth $8,007,926 in the last quarter. Company insiders own 10.53% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AERI. Girard Partners LTD. acquired a new position in shares of Aerie Pharmaceuticals during the third quarter valued at about $105,000. Fox Run Management L.L.C. acquired a new position in shares of Aerie Pharmaceuticals during the third quarter valued at about $201,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Aerie Pharmaceuticals by 48.6% during the third quarter. Public Employees Retirement Association of Colorado now owns 4,370 shares of the company’s stock valued at $269,000 after purchasing an additional 1,430 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Aerie Pharmaceuticals during the second quarter valued at about $276,000. Finally, GW Henssler & Associates Ltd. acquired a new position in shares of Aerie Pharmaceuticals during the third quarter valued at about $334,000.

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 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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