Kornitzer Capital Management Inc. KS reduced its position in Aerie Pharmaceuticals Inc (NASDAQ:AERI) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 151,855 shares of the company’s stock after selling 855 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Aerie Pharmaceuticals were worth $4,487,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of AERI. Truvestments Capital LLC purchased a new position in Aerie Pharmaceuticals in the first quarter valued at about $33,000. Quantamental Technologies LLC purchased a new position in Aerie Pharmaceuticals in the first quarter valued at about $41,000. Oppenheimer Asset Management Inc. purchased a new position in Aerie Pharmaceuticals in the first quarter valued at about $47,000. Meeder Asset Management Inc. raised its position in Aerie Pharmaceuticals by 134.0% in the first quarter. Meeder Asset Management Inc. now owns 1,060 shares of the company’s stock valued at $50,000 after purchasing an additional 607 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Aerie Pharmaceuticals in the second quarter valued at about $276,000.
Several research firms have commented on AERI. Citigroup reissued an “outperform” rating and issued a $45.00 price objective (down from $65.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $62.00 price objective (down from $85.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Mizuho set a $77.00 price objective on Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Jaffray Companies cut their price objective on Aerie Pharmaceuticals from $76.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, 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 report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $62.08.
In other news, major shareholder Foresite Capital Management Ii purchased 100,000 shares of the firm’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 document filed with the Securities & Exchange Commission, which is accessible through this link. 8.71% of the stock is currently owned by company insiders.
Shares of Aerie Pharmaceuticals stock traded up $0.55 during trading hours on Thursday, hitting $24.52. 76,285 shares of the company’s stock traded hands, compared to its average volume of 1,053,839. The stock has a 50 day moving average of $24.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 3.47. The stock has a market cap of $1.11 billion, a P/E ratio of -5.27 and a beta of 0.41. Aerie Pharmaceuticals Inc has a twelve month low of $20.72 and a twelve month high of $65.90.
Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.80) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.07. The business had revenue of $15.84 million during the quarter, compared to the consensus estimate of $14.60 million. Aerie Pharmaceuticals had a negative return on equity of 82.33% and a negative net margin of 478.81%. As a group, sell-side analysts anticipate that Aerie Pharmaceuticals Inc will post -3.48 EPS for the current fiscal 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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