Aerie Pharmaceuticals (AERI) Given Buy Rating at Mizuho

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Mizuho reiterated their buy rating on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research report report published on Sunday, AnalystRatings.com reports. Mizuho currently has a $77.00 price target on the stock.

“We adjusted our 1Q19 revenue estimate for Rhopressa down but maintain our FY2019 net revenue estimate at the high-end of guidance. We expect Rhopressa Scripts to pick up around June driven by higher anticipated formulary coverage (Medicare Part D going from ~40% currently to ~70%+ in May – guided by management).”,” the firm’s analyst wrote.

A number of other research firms have also recently issued reports on AERI. BidaskClub upgraded Aerie Pharmaceuticals from a strong sell rating to a sell rating in a research note on Thursday, April 4th. Canaccord Genuity cut their target price on Aerie Pharmaceuticals from $86.00 to $73.00 and set a buy rating on the stock in a research note on Tuesday, March 5th. ValuEngine upgraded Aerie Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, March 1st. Zacks Investment Research cut Aerie Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, March 15th. Finally, Oppenheimer reiterated a buy rating on shares of Aerie Pharmaceuticals in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Aerie Pharmaceuticals has a consensus rating of Buy and a consensus target price of $76.50.

AERI stock opened at $38.83 on Friday. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -8.35 and a beta of 0.96. Aerie Pharmaceuticals has a 1 year low of $32.18 and a 1 year high of $74.75.

In related news, insider Casey C. Kopczynski sold 11,000 shares of Aerie Pharmaceuticals stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $46.17, for a total transaction of $507,870.00. Following the sale, the insider now directly owns 97,243 shares in the company, valued at $4,489,709.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.53% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AERI. Bank of New York Mellon Corp raised its stake in shares of Aerie Pharmaceuticals by 132.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,466,119 shares of the company’s stock valued at $52,928,000 after purchasing an additional 835,304 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Aerie Pharmaceuticals by 12.7% during the third quarter. Vanguard Group Inc now owns 3,887,580 shares of the company’s stock valued at $239,281,000 after purchasing an additional 436,964 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Aerie Pharmaceuticals by 12.7% during the third quarter. Vanguard Group Inc. now owns 3,887,580 shares of the company’s stock valued at $239,281,000 after purchasing an additional 436,964 shares in the last quarter. Sectoral Asset Management Inc raised its stake in shares of Aerie Pharmaceuticals by 45.9% during the fourth quarter. Sectoral Asset Management Inc now owns 1,133,954 shares of the company’s stock valued at $40,936,000 after purchasing an additional 356,484 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Aerie Pharmaceuticals during the fourth quarter valued at about $10,815,000.

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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