Aerie Pharmaceuticals’ (AERI) “Buy” Rating Reaffirmed at Mizuho

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Mizuho reaffirmed their buy rating on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research report released on Thursday, The Fly reports. The firm currently has a $54.00 price objective on the stock, down from their prior price objective of $63.00.

A number of other equities research analysts have also recently commented on the company. Citigroup reissued an outperform rating and issued a $45.00 price objective (down previously from $65.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. HC Wainwright reissued a buy rating on shares of Aerie Pharmaceuticals in a research note on Thursday, October 24th. Needham & Company LLC reissued a buy rating and issued a $54.00 price objective on shares of Aerie Pharmaceuticals in a research note on Friday, October 25th. JMP Securities reduced their price objective on Aerie Pharmaceuticals from $58.00 to $52.00 and set a market outperform rating for the company in a research note on Thursday, August 8th. Finally, ValuEngine cut Aerie Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $44.92.

Shares of AERI stock traded up $0.75 on Thursday, hitting $19.23. 2,084,600 shares of the company’s stock were exchanged, compared to its average volume of 892,659. The company has a 50 day moving average of $21.03 and a 200 day moving average of $27.38. Aerie Pharmaceuticals has a 12 month low of $17.51 and a 12 month high of $50.10. The stock has a market cap of $1.09 billion, a P/E ratio of -4.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.52 and a quick ratio of 2.35.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, November 6th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Aerie Pharmaceuticals had a negative return on equity of 89.52% and a negative net margin of 478.81%. The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $17.59 million. Sell-side analysts predict that Aerie Pharmaceuticals will post -3.61 EPS for the current fiscal year.

In related news, major shareholder Foresite Capital Management Ii bought 1,153 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $23.25 per share, for a total transaction of $26,807.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foresite Capital Fund Ii, L.P. bought 46,153 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $23.45 per share, for a total transaction of $1,082,287.85. The disclosure for this purchase can be found here. Insiders acquired 562,698 shares of company stock valued at $13,088,866 in the last three months. Insiders own 8.71% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. CNA Financial Corp lifted its holdings in Aerie Pharmaceuticals by 499.8% during the third quarter. CNA Financial Corp now owns 176,525 shares of the company’s stock worth $3,393,000 after acquiring an additional 147,094 shares during the period. Thompson Investment Management Inc. bought a new stake in Aerie Pharmaceuticals during the third quarter worth $406,000. C WorldWide Group Holding A S lifted its holdings in Aerie Pharmaceuticals by 21.9% during the third quarter. C WorldWide Group Holding A S now owns 556,142 shares of the company’s stock worth $10,689,000 after acquiring an additional 100,000 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in Aerie Pharmaceuticals by 86.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 283,535 shares of the company’s stock worth $5,450,000 after acquiring an additional 131,680 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Aerie Pharmaceuticals by 159.4% during the third quarter. California Public Employees Retirement System now owns 70,300 shares of the company’s stock worth $1,351,000 after acquiring an additional 43,200 shares during the period.

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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The Fly

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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