Aerie Pharmaceuticals (NASDAQ:AERI) PT Set at $54.00 by Needham & Company LLC

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Aerie Pharmaceuticals (NASDAQ:AERI) has been assigned a $54.00 target price by investment analysts at Needham & Company LLC in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 174.11% from the stock’s previous close.

A number of other analysts have also weighed in on AERI. Zacks Investment Research upgraded shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research note on Friday, June 28th. Citigroup restated an “outperform” rating and set a $45.00 target price (down from $65.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Mizuho set a $63.00 target price on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and set a $62.00 target price (down from $85.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $58.83.

Shares of AERI stock traded down $0.45 during trading hours on Friday, reaching $19.70. 117,634 shares of the stock were exchanged, compared to its average volume of 1,246,125. The business’s fifty day moving average is $21.16 and its two-hundred day moving average is $30.63. 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 $60.81. The firm has a market capitalization of $814.04 million, a P/E ratio of -4.24 and a beta of 0.53.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, August 7th. The company reported ($0.80) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.07. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 89.52%. The firm had revenue of $15.84 million for the quarter, compared to analyst estimates of $14.60 million. As a group, equities research analysts predict that Aerie Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

In related news, major shareholder Foresite Capital Management Ii purchased 189,555 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $24.43 per share, for a total transaction of $4,630,828.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vicente Anido, Jr. purchased 26,250 shares of the company’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $19.01 per share, for a total transaction of $499,012.50. Following the completion of the purchase, the chief executive officer now directly owns 195,631 shares of the company’s stock, valued at $3,718,945.31. The disclosure for this purchase can be found here. Insiders acquired 562,698 shares of company stock worth $13,088,866 over the last quarter. 8.71% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Aerie Pharmaceuticals by 1.9% in the second quarter. Vanguard Group Inc. now owns 4,188,446 shares of the company’s stock valued at $123,769,000 after purchasing an additional 79,985 shares during the last quarter. BlackRock Inc. grew its position in shares of Aerie Pharmaceuticals by 11.0% during the second quarter. BlackRock Inc. now owns 3,358,901 shares of the company’s stock worth $99,255,000 after acquiring an additional 331,884 shares during the last quarter. Waddell & Reed Financial Inc. grew its position in shares of Aerie Pharmaceuticals by 14.8% during the second quarter. Waddell & Reed Financial Inc. now owns 1,737,627 shares of the company’s stock worth $51,347,000 after acquiring an additional 224,655 shares during the last quarter. Pictet Asset Management Ltd. grew its position in shares of Aerie Pharmaceuticals by 14.8% during the second quarter. Pictet Asset Management Ltd. now owns 930,723 shares of the company’s stock worth $27,503,000 after acquiring an additional 120,313 shares during the last quarter. Finally, Novo Holdings A S grew its position in shares of Aerie Pharmaceuticals by 26.5% during the second quarter. Novo Holdings A S now owns 570,036 shares of the company’s stock worth $16,845,000 after acquiring an additional 119,322 shares during the last quarter.

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.

Further Reading: Strangles

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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