Brokerages predict that Aerie Pharmaceuticals Inc (NASDAQ:AERI) will announce sales of $12.86 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Aerie Pharmaceuticals’ earnings, with estimates ranging from $10.92 million to $14.00 million. The business is scheduled to issue its next earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Aerie Pharmaceuticals will report full-year sales of $22.40 million for the current financial year, with estimates ranging from $20.65 million to $23.05 million. For the next fiscal year, analysts expect that the company will post sales of $111.97 million, with estimates ranging from $101.00 million to $123.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Aerie Pharmaceuticals.
Aerie Pharmaceuticals (NASDAQ:AERI) last posted its earnings results on Tuesday, November 6th. The company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($0.40). The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $5.63 million.
A number of brokerages have recently weighed in on AERI. Mizuho restated a “buy” rating on shares of Aerie Pharmaceuticals in a research note on Friday. ValuEngine lowered Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer began coverage on Aerie Pharmaceuticals in a research note on Monday, December 3rd. They set a “buy” rating and a $64.00 price target on the stock. BidaskClub lowered Aerie Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 10th. Finally, FIX began coverage on Aerie Pharmaceuticals in a research note on Monday, November 12th. They set a “reduce” rating and a $64.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $77.45.
Shares of AERI stock traded down $2.68 during trading hours on Monday, reaching $40.39. 1,047,746 shares of the company’s stock were exchanged, compared to its average volume of 477,978. Aerie Pharmaceuticals has a 1 year low of $32.18 and a 1 year high of $74.75. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -11.99 and a beta of 1.10.
In related news, insider Casey C. Kopczynski sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $46.17, for a total value of $507,870.00. Following the sale, the insider now owns 97,243 shares in the company, valued at $4,489,709.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald D. Cagle bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average price of $41.75 per share, for a total transaction of $83,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 33,000 shares of company stock worth $1,333,090. 10.53% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Columbus Circle Investors boosted its position in Aerie Pharmaceuticals by 3.1% in the third quarter. Columbus Circle Investors now owns 798,376 shares of the company’s stock valued at $49,140,000 after buying an additional 24,196 shares during the last quarter. Putnam Investments LLC boosted its position in Aerie Pharmaceuticals by 177.0% in the third quarter. Putnam Investments LLC now owns 45,748 shares of the company’s stock valued at $2,816,000 after buying an additional 29,231 shares during the last quarter. Vanguard Group Inc boosted its position in Aerie Pharmaceuticals by 12.7% in the third quarter. Vanguard Group Inc now owns 3,887,580 shares of the company’s stock valued at $239,281,000 after buying an additional 436,964 shares during the last quarter. Bamco Inc. NY boosted its position in Aerie Pharmaceuticals by 72.6% in the third quarter. Bamco Inc. NY now owns 43,262 shares of the company’s stock valued at $2,663,000 after buying an additional 18,194 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Aerie Pharmaceuticals by 9.0% in the third quarter. Macquarie Group Ltd. now owns 80,674 shares of the company’s stock valued at $4,965,000 after buying an additional 6,641 shares during the last quarter.
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 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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