Brokerages forecast that Aerie Pharmaceuticals Inc (NASDAQ:AERI) will announce sales of $16.29 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Aerie Pharmaceuticals’ earnings. The highest sales estimate is $18.80 million and the lowest is $14.00 million. Aerie Pharmaceuticals posted sales of $2.42 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 573.1%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Aerie Pharmaceuticals will report full-year sales of $103.70 million for the current financial year, with estimates ranging from $95.59 million to $116.00 million. For the next year, analysts expect that the firm will report sales of $249.82 million, with estimates ranging from $214.80 million to $270.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Aerie Pharmaceuticals.
Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.13. The firm had revenue of $10.85 million during the quarter, compared to analysts’ expectations of $12.66 million. Aerie Pharmaceuticals had a negative return on equity of 93.96% and a negative net margin of 684.56%.
AERI has been the topic of several recent analyst reports. Zacks Investment Research raised Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Friday, June 28th. BidaskClub lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Mizuho reaffirmed a “buy” rating and set a $77.00 target price on shares of Aerie Pharmaceuticals in a research report on Sunday, April 21st. JMP Securities set a $58.00 target price on Aerie Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Piper Jaffray Companies set a $76.00 target price on Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, July 5th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. Aerie Pharmaceuticals has an average rating of “Buy” and an average target price of $71.25.
Several hedge funds have recently made changes to their positions in AERI. Fox Run Management L.L.C. purchased a new position in Aerie Pharmaceuticals during the second quarter worth approximately $276,000. Sphera Funds Management LTD. purchased a new position in Aerie Pharmaceuticals during the first quarter worth approximately $7,125,000. Marshall Wace North America L.P. lifted its position in Aerie Pharmaceuticals by 20.7% during the first quarter. Marshall Wace North America L.P. now owns 95,578 shares of the company’s stock worth $4,540,000 after buying an additional 16,405 shares in the last quarter. Granite Investment Partners LLC purchased a new position in Aerie Pharmaceuticals during the first quarter worth approximately $13,337,000. Finally, Atika Capital Management LLC purchased a new position in Aerie Pharmaceuticals during the first quarter worth approximately $3,088,000.
Shares of NASDAQ AERI traded down $0.50 during mid-day trading on Friday, reaching $23.12. 1,049,081 shares of the company were exchanged, compared to its average volume of 792,051. The company has a current ratio of 3.47, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.06 billion, a PE ratio of -4.97 and a beta of 0.53. Aerie Pharmaceuticals has a 1 year low of $22.45 and a 1 year high of $74.75. The business has a 50-day simple moving average of $30.20.
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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