Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) traded down 5.6% during trading on Friday . The company traded as low as $23.13 and last traded at $23.19, 865,970 shares changed hands during trading. An increase of 22% from the average session volume of 709,769 shares. The stock had previously closed at $24.57.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a research note on Friday, June 28th. BidaskClub raised shares of Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 13th. Mizuho set a $77.00 price target on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Finally, Piper Jaffray Companies dropped their price target on shares of Aerie Pharmaceuticals from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $62.08.
The company has a debt-to-equity ratio of 0.08, a current ratio of 2.52 and a quick ratio of 3.27. The firm’s 50-day simple moving average is $24.25 and its 200-day simple moving average is $36.91.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.07. The company had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $14.60 million. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 89.52%. As a group, equities research analysts anticipate that Aerie Pharmaceuticals Inc will post -3.48 earnings per share for the current year.
In related news, major shareholder Foresite Capital Management Ii acquired 189,555 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $24.43 per share, with a total value of $4,630,828.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.71% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Aerie Pharmaceuticals by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,188,446 shares of the company’s stock worth $123,769,000 after purchasing an additional 79,985 shares during the period. BlackRock Inc. lifted its position in shares of Aerie Pharmaceuticals by 11.0% in the 2nd quarter. BlackRock Inc. now owns 3,358,901 shares of the company’s stock worth $99,255,000 after purchasing an additional 331,884 shares during the period. Waddell & Reed Financial Inc. lifted its position in shares of Aerie Pharmaceuticals by 14.8% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,737,627 shares of the company’s stock worth $51,347,000 after purchasing an additional 224,655 shares during the period. Jennison Associates LLC lifted its position in shares of Aerie Pharmaceuticals by 13.6% in the 1st quarter. Jennison Associates LLC now owns 1,344,999 shares of the company’s stock worth $63,887,000 after purchasing an additional 161,538 shares during the period. Finally, FMR LLC lifted its position in shares of Aerie Pharmaceuticals by 0.4% in the 4th quarter. FMR LLC now owns 978,953 shares of the company’s stock worth $35,340,000 after purchasing an additional 3,950 shares during the period.
About Aerie Pharmaceuticals (NASDAQ:AERI)
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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