Aerie Pharmaceuticals (NASDAQ:AERI) Stock Rating Reaffirmed by Cowen

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Aerie Pharmaceuticals (NASDAQ:AERI)‘s stock had its “outperform” rating restated by equities research analysts at Cowen in a report issued on Thursday, The Fly reports. They currently have a $50.00 price target on the stock, down from their prior price target of $105.00. Cowen’s price objective would indicate a potential upside of 160.01% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. HC Wainwright decreased their target price on shares of Aerie Pharmaceuticals from $55.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective on shares of Aerie Pharmaceuticals in a research report on Friday, October 25th. Mizuho restated a “buy” rating and issued a $54.00 price objective (down previously from $63.00) on shares of Aerie Pharmaceuticals in a research report on Thursday. Citigroup restated an “outperform” rating and issued a $45.00 price objective (down previously from $65.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Finally, BidaskClub upgraded shares of Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 30th. Two research 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’s stock. Aerie Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $44.92.

Shares of Aerie Pharmaceuticals stock traded up $0.75 during trading hours on Thursday, reaching $19.23. 2,084,600 shares of the company were exchanged, compared to its average volume of 892,659. Aerie Pharmaceuticals has a 1 year low of $17.51 and a 1 year high of $50.10. The firm has a market cap of $1.09 billion, a PE ratio of -4.14 and a beta of 0.51. The stock’s fifty day moving average is $21.03 and its 200 day moving average is $27.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.52.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.86) earnings per share 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. Research analysts expect that Aerie Pharmaceuticals will post -3.61 earnings per share for the current year.

In related news, major shareholder Foresite Capital Management Ii purchased 1,153 shares of Aerie Pharmaceuticals stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $23.25 per share, for a total transaction of $26,807.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Foresite Capital Fund Ii, L.P. purchased 46,153 shares of Aerie Pharmaceuticals stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $23.45 per share, with a total value of $1,082,287.85. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 562,698 shares of company stock valued at $13,088,866. 8.71% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of AERI. Tower Research Capital LLC TRC lifted its position in shares of Aerie Pharmaceuticals by 2,330.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock valued at $43,000 after acquiring an additional 1,398 shares during the period. Endurance Wealth Management Inc. lifted its position in shares of Aerie Pharmaceuticals by 173.7% during the 3rd quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock valued at $50,000 after acquiring an additional 1,650 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Aerie Pharmaceuticals during the 2nd quarter valued at approximately $115,000. Bank of Montreal Can lifted its position in shares of Aerie Pharmaceuticals by 497.8% during the 2nd quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock valued at $119,000 after acquiring an additional 3,350 shares during the period. Finally, First Mercantile Trust Co. acquired a new stake in shares of Aerie Pharmaceuticals during the 2nd quarter valued at approximately $134,000.

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.

Further Reading: Oversold

The Fly

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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