Aerie Pharmaceuticals (NASDAQ:AERI) Cut to Buy at ValuEngine

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Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, August 28th.

A number of other research analysts have also recently commented on AERI. HC Wainwright set a $78.00 target price on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th. BidaskClub cut shares of Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Canaccord Genuity set a $86.00 price target on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Needham & Company LLC set a $86.00 target price on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a report on Friday, July 13th. Finally, Cowen raised 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Aerie Pharmaceuticals has an average rating of “Buy” and a consensus price target of $83.10.

Shares of AERI traded down $0.30 during trading hours on Tuesday, hitting $59.15. The stock had a trading volume of 201,743 shares, compared to its average volume of 406,405. The company has a debt-to-equity ratio of 0.64, a current ratio of 10.27 and a quick ratio of 10.07. Aerie Pharmaceuticals has a fifty-two week low of $47.05 and a fifty-two week high of $74.75. The stock has a market cap of $2.64 billion, a P/E ratio of -17.55 and a beta of 0.77.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.98) by ($0.16). The firm had revenue of $2.42 million for the quarter, compared to analyst estimates of $1.16 million. equities analysts expect that Aerie Pharmaceuticals will post -4.51 EPS for the current year.

In other Aerie Pharmaceuticals news, insider Casey C. Kopczynski sold 11,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $60.09, for a total value of $660,990.00. Following the completion of the sale, the insider now owns 148,517 shares of the company’s stock, valued at $8,924,386.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Thomas A. Mitro sold 190,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 234,147 shares of the company’s stock, valued at approximately $14,112,039.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,512 shares of company stock worth $15,670,247. Insiders own 10.53% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in shares of Aerie Pharmaceuticals by 24.3% in the 1st quarter. Alps Advisors Inc. now owns 50,556 shares of the company’s stock valued at $2,743,000 after buying an additional 9,883 shares during the period. Trexquant Investment LP increased its stake in shares of Aerie Pharmaceuticals by 621.0% in the 1st quarter. Trexquant Investment LP now owns 29,516 shares of the company’s stock valued at $1,601,000 after buying an additional 25,422 shares during the period. American Century Companies Inc. increased its stake in shares of Aerie Pharmaceuticals by 67.7% in the 1st quarter. American Century Companies Inc. now owns 56,339 shares of the company’s stock valued at $3,056,000 after buying an additional 22,751 shares during the period. Prudential Financial Inc. grew its stake in shares of Aerie Pharmaceuticals by 9.2% during the first quarter. Prudential Financial Inc. now owns 57,910 shares of the company’s stock worth $3,142,000 after purchasing an additional 4,890 shares during the period. Finally, Swiss National Bank grew its stake in shares of Aerie Pharmaceuticals by 2.5% during the first quarter. Swiss National Bank now owns 53,900 shares of the company’s stock worth $2,924,000 after purchasing an additional 1,300 shares during the period. 96.00% of the stock is owned by institutional investors and hedge funds.

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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