Aerie Pharmaceuticals (NASDAQ:AERI) PT Lowered to $30.00 at Cantor Fitzgerald

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Aerie Pharmaceuticals (NASDAQ:AERI) had its target price decreased by Cantor Fitzgerald from $62.00 to $30.00 in a research note published on Thursday, The Fly reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other brokerages have also commented on AERI. ValuEngine lowered Aerie Pharmaceuticals from a buy rating to a hold rating in a report on Monday, November 4th. Citigroup reissued an outperform rating and set a $45.00 price target (down from $65.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Mizuho reissued a buy rating and set a $54.00 price target (down from $63.00) on shares of Aerie Pharmaceuticals in a report on Thursday. Needham & Company LLC reissued a buy rating and set a $54.00 price target on shares of Aerie Pharmaceuticals in a report on Friday, October 25th. Finally, JMP Securities lowered their target price on 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 issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $44.92.

AERI traded up $0.75 during trading hours on Thursday, hitting $19.23. 2,084,600 shares of the stock were exchanged, compared to its average volume of 892,659. The stock 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 debt-to-equity ratio of 0.08, a current ratio of 2.52 and a quick ratio of 2.35. Aerie Pharmaceuticals has a 12 month low of $17.51 and a 12 month high of $50.10. The stock has a 50-day simple moving average of $21.03 and a 200-day simple moving average of $27.38.

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

In other news, CFO Richard J. Rubino bought 5,040 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $19.93 per share, with a total value of $100,447.20. Following the completion of the acquisition, the chief financial officer now directly owns 339,446 shares in the company, valued at $6,765,158.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foresite Capital Management Ii purchased 189,555 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $24.43 per share, with a total value of $4,630,828.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 562,698 shares of company stock worth $13,088,866. 8.71% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in AERI. BlackRock Inc. boosted 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 valued at $99,255,000 after purchasing an additional 331,884 shares during the period. C WorldWide Group Holding A S boosted its position in shares of Aerie Pharmaceuticals by 235.0% in the 2nd quarter. C WorldWide Group Holding A S now owns 456,142 shares of the company’s stock valued at $13,479,000 after purchasing an additional 320,000 shares during the period. Waddell & Reed Financial Inc. boosted 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 valued at $51,347,000 after purchasing an additional 224,655 shares during the period. Bamco Inc. NY boosted its position in shares of Aerie Pharmaceuticals by 400.7% in the 2nd quarter. Bamco Inc. NY now owns 275,226 shares of the company’s stock valued at $8,133,000 after purchasing an additional 220,263 shares during the period. Finally, Rhenman & Partners Asset Management AB boosted its position in shares of Aerie Pharmaceuticals by 82.7% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 475,000 shares of the company’s stock valued at $9,130,000 after purchasing an additional 215,000 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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