Aerie Pharmaceuticals (NASDAQ:AERI) had its price objective trimmed by Cantor Fitzgerald from $62.00 to $30.00 in a report published on Thursday morning, The Fly reports. The brokerage currently has an overweight rating on the stock.
Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Aerie Pharmaceuticals from a buy rating to a hold rating in a report on Monday, November 4th. Citigroup restated an outperform rating and issued a $45.00 target price (down from $65.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Needham & Company LLC restated a buy rating and issued a $54.00 target price on shares of Aerie Pharmaceuticals in a report on Friday, October 25th. Piper Jaffray Companies restated a buy rating on shares of Aerie Pharmaceuticals in a report on Tuesday, October 15th. Finally, JMP Securities reduced their target price on shares of Aerie Pharmaceuticals from $58.00 to $52.00 and set a market outperform rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. Aerie Pharmaceuticals has a consensus rating of Buy and an average price target of $44.92.
Shares of NASDAQ:AERI traded up $0.75 on Thursday, reaching $19.23. 2,084,600 shares of the company were exchanged, compared to its average volume of 892,659. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -4.14 and a beta of 0.51. The company has a current ratio of 2.52, a quick ratio of 2.35 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $21.03 and a 200-day moving average of $27.38. Aerie Pharmaceuticals has a 1-year low of $17.51 and a 1-year high of $50.10.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, November 6th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.84) by ($0.02). The firm had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.59 million. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 89.52%. As a group, analysts forecast that Aerie Pharmaceuticals will post -3.61 earnings per share for the current year.
In related news, CEO Vicente Anido, Jr. acquired 26,250 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $19.01 per share, with a total value of $499,012.50. Following the purchase, the chief executive officer now directly owns 195,631 shares in the company, valued at approximately $3,718,945.31. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Foresite Capital Management Ii acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $23.73 per share, with a total value of $2,373,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 562,698 shares of company stock valued at $13,088,866. Corporate insiders own 8.71% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Atria Investments LLC acquired a new stake in Aerie Pharmaceuticals during the 2nd quarter worth approximately $811,000. Putnam Investments LLC increased its position in Aerie Pharmaceuticals by 15.5% during the 2nd quarter. Putnam Investments LLC now owns 62,113 shares of the company’s stock worth $1,836,000 after purchasing an additional 8,322 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Aerie Pharmaceuticals during the 2nd quarter worth approximately $1,440,000. GSA Capital Partners LLP acquired a new stake in Aerie Pharmaceuticals during the 2nd quarter worth approximately $715,000. Finally, First Mercantile Trust Co. acquired a new stake in Aerie Pharmaceuticals during the 2nd quarter worth approximately $134,000.
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, 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.
Read More: Price to Earnings Ratio (PE)
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