Aerie Pharmaceuticals (NASDAQ:AERI)‘s stock had its “buy” rating reaffirmed by analysts at Mizuho in a report issued on Wednesday. They presently have a $77.00 price objective on the stock. Mizuho’s target price would suggest a potential upside of 41.15% from the company’s current price.
The analysts wrote, “We continue to believe that 2018 Rhopressa sales can land in the upper range of management guidance and recent performance reinforces our view.””
A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald restated a “buy” rating and issued a $86.00 target price on shares of Aerie Pharmaceuticals in a research note on Tuesday, October 2nd. BidaskClub lowered Aerie Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, September 1st. Stifel Nicolaus upped their target price on Aerie Pharmaceuticals from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Canaccord Genuity restated a “buy” rating and issued a $86.00 target price on shares of Aerie Pharmaceuticals in a research note on Friday, August 10th. Finally, JMP Securities set a $80.00 target price on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $82.30.
Shares of NASDAQ AERI opened at $54.55 on Wednesday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -16.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 10.07 and a current ratio of 10.27. Aerie Pharmaceuticals has a twelve month low of $47.06 and a twelve month high of $74.75.
Aerie Pharmaceuticals (NASDAQ:AERI) last announced its earnings results on Tuesday, November 6th. The company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.33) by ($0.40). Research analysts forecast that Aerie Pharmaceuticals will post -4.51 EPS for the current fiscal year.
In other news, CFO Richard J. Rubino sold 34,512 shares of the stock in a transaction dated Thursday, September 13th. The stock was 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 directly owns 383,738 shares in the company, valued at approximately $23,089,515.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas A. Mitro sold 190,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $60.27, for a total value of $11,451,300.00. Following the transaction, the chief operating officer now owns 234,147 shares in the company, valued at $14,112,039.69. The disclosure for this sale can be found here. Insiders have sold a total of 324,117 shares of company stock worth $19,459,226 over the last quarter. Corporate insiders own 10.53% of the company’s stock.
Several institutional investors have recently made changes to their positions in AERI. UBS Group AG increased its position in shares of Aerie Pharmaceuticals by 142.3% during the 1st quarter. UBS Group AG now owns 9,409 shares of the company’s stock valued at $511,000 after purchasing an additional 5,526 shares during the last quarter. Royal Bank of Canada increased its position in shares of Aerie Pharmaceuticals by 8.3% during the 1st quarter. Royal Bank of Canada now owns 32,875 shares of the company’s stock valued at $1,784,000 after purchasing an additional 2,511 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Aerie Pharmaceuticals during the 1st quarter valued at about $258,000. Handelsbanken Fonder AB increased its position in shares of Aerie Pharmaceuticals by 17.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 305,000 shares of the company’s stock valued at $20,603,000 after purchasing an additional 45,000 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Aerie Pharmaceuticals by 20.0% during the 2nd quarter. Amalgamated Bank now owns 5,441 shares of the company’s stock valued at $368,000 after purchasing an additional 906 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.
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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