Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity set a $56.00 price objective on Aerie Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, June 11th. HC Wainwright reissued a buy rating and issued a $57.00 price objective on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Piper Jaffray Companies reduced their price objective on Aerie Pharmaceuticals from $76.00 to $53.00 and set an overweight rating for the company in a research report on Thursday, August 8th. JMP Securities cut their target price on Aerie Pharmaceuticals from $58.00 to $52.00 and set a market outperform rating for the company in a research note on Thursday, August 8th. Finally, Zacks Investment Research upgraded Aerie Pharmaceuticals from a sell rating to a hold rating and set a $31.00 target price for the company in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. Aerie Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $62.08.
AERI opened at $24.57 on Tuesday. Aerie Pharmaceuticals has a 1-year low of $20.72 and a 1-year high of $64.95. The company has a current ratio of 2.52, a quick ratio of 3.27 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.28 and a beta of 0.41. The business has a 50 day moving average of $24.36 and a 200-day moving average of $36.98.
In other news, major shareholder Foresite Capital Management Ii bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $23.73 per share, for a total transaction of $2,373,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.71% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Aerie Pharmaceuticals by 1.9% during the second quarter. Vanguard Group Inc. now owns 4,188,446 shares of the company’s stock worth $123,769,000 after acquiring an additional 79,985 shares in the last quarter. BlackRock Inc. raised its stake in Aerie Pharmaceuticals by 11.0% during the second quarter. BlackRock Inc. now owns 3,358,901 shares of the company’s stock worth $99,255,000 after acquiring an additional 331,884 shares in the last quarter. Waddell & Reed Financial Inc. raised its stake in Aerie Pharmaceuticals by 14.8% during the second quarter. Waddell & Reed Financial Inc. now owns 1,737,627 shares of the company’s stock worth $51,347,000 after acquiring an additional 224,655 shares in the last quarter. Jennison Associates LLC raised its stake in Aerie Pharmaceuticals by 13.6% during the first quarter. Jennison Associates LLC now owns 1,344,999 shares of the company’s stock worth $63,887,000 after acquiring an additional 161,538 shares in the last quarter. Finally, FMR LLC raised its stake in Aerie Pharmaceuticals by 0.4% during the fourth quarter. FMR LLC now owns 978,953 shares of the company’s stock worth $35,340,000 after acquiring an additional 3,950 shares in the last quarter.
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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