Kornitzer Capital Management Inc. KS Acquires 131,680 Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI)

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Kornitzer Capital Management Inc. KS increased its holdings in shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) by 86.7% during the third quarter, HoldingsChannel.com reports. The fund owned 283,535 shares of the company’s stock after buying an additional 131,680 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Aerie Pharmaceuticals were worth $5,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Atria Investments LLC bought a new stake in Aerie Pharmaceuticals during the second quarter worth $811,000. Putnam Investments LLC lifted its holdings in Aerie Pharmaceuticals by 15.5% during the second quarter. Putnam Investments LLC now owns 62,113 shares of the company’s stock worth $1,836,000 after acquiring an additional 8,322 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Aerie Pharmaceuticals during the second quarter worth $1,440,000. GSA Capital Partners LLP bought a new stake in Aerie Pharmaceuticals during the second quarter worth $715,000. Finally, First Mercantile Trust Co. bought a new stake in Aerie Pharmaceuticals during the second quarter worth $134,000.

In related news, major shareholder Foresite Capital Management Ii bought 100,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $23.73 per share, with a total value of $2,373,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vicente Anido, Jr. bought 26,250 shares of the stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $19.01 per share, with a total value of $499,012.50. Following the purchase, the chief executive officer now owns 195,631 shares in the company, valued at approximately $3,718,945.31. The disclosure for this purchase can be found here. Insiders bought a total of 562,698 shares of company stock valued at $13,088,866 over the last quarter. Company insiders own 8.71% of the company’s stock.

Shares of AERI traded up $0.75 during mid-day trading on Friday, hitting $19.23. The stock had a trading volume of 2,084,600 shares, compared to its average volume of 892,659. The business has a fifty day moving average price of $21.03 and a 200-day moving average price of $27.38. Aerie Pharmaceuticals Inc has a 52 week low of $17.51 and a 52 week high of $50.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.52 and a quick ratio of 2.35. The firm has a market cap of $1.09 billion, a P/E ratio of -4.14 and a beta of 0.51.

Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.59 million. As a group, research analysts expect that Aerie Pharmaceuticals Inc will post -3.61 earnings per share for the current fiscal year.

A number of brokerages recently commented on AERI. BidaskClub upgraded Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Mizuho reiterated a “buy” rating and set a $54.00 price target (down from $63.00) on shares of Aerie Pharmaceuticals in a report on Thursday. Stifel Nicolaus dropped their price target on Aerie Pharmaceuticals from $77.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of Aerie Pharmaceuticals in a research note on Friday, October 25th. Finally, Piper Jaffray Companies lowered their target price on Aerie Pharmaceuticals from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.92.

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.

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Institutional Ownership by Quarter for Aerie Pharmaceuticals (NASDAQ:AERI)

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