Aerie Pharmaceuticals (NASDAQ:AERI) Now Covered by Needham & Company LLC

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Equities research analysts at Needham & Company LLC began coverage on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research note issued on Friday, TipRanks reports. The firm set a “buy” rating and a $38.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 141.42% from the company’s previous close.

A number of other research analysts have also recently commented on AERI. Bank of America restated a “hold” rating and issued a $17.00 price target on shares of Aerie Pharmaceuticals in a research report on Monday, March 23rd. BidaskClub raised shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. Stifel Nicolaus cut their price target on shares of Aerie Pharmaceuticals from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. HC Wainwright decreased their price objective on shares of Aerie Pharmaceuticals from $37.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Zacks Investment Research cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $34.73.

Shares of AERI opened at $15.74 on Friday. The company has a quick ratio of 4.02, a current ratio of 4.28 and a debt-to-equity ratio of 1.61. Aerie Pharmaceuticals has a 12 month low of $10.80 and a 12 month high of $40.25. The firm’s 50 day moving average is $14.63 and its 200-day moving average is $18.59.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.08). The company had revenue of $20.34 million for the quarter, compared to analyst estimates of $21.04 million. Aerie Pharmaceuticals had a negative return on equity of 95.74% and a negative net margin of 252.92%. As a group, research analysts anticipate that Aerie Pharmaceuticals will post -3.39 earnings per share for the current fiscal year.

In other Aerie Pharmaceuticals news, Director Gerald D. Cagle sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $15.27, for a total value of $76,350.00. Following the completion of the transaction, the director now directly owns 16,550 shares in the company, valued at approximately $252,718.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 8.71% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of AERI. FDx Advisors Inc. bought a new position in Aerie Pharmaceuticals during the 1st quarter worth $58,000. Fred Alger Management LLC increased its stake in shares of Aerie Pharmaceuticals by 30.5% in the first quarter. Fred Alger Management LLC now owns 1,396,982 shares of the company’s stock valued at $18,859,000 after buying an additional 326,190 shares during the period. Tudor Investment Corp Et Al acquired a new stake in shares of Aerie Pharmaceuticals in the first quarter valued at about $145,000. DAFNA Capital Management LLC lifted its stake in shares of Aerie Pharmaceuticals by 9.6% in the first quarter. DAFNA Capital Management LLC now owns 293,440 shares of the company’s stock worth $3,961,000 after acquiring an additional 25,601 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in Aerie Pharmaceuticals by 15.6% in the first quarter. Rice Hall James & Associates LLC now owns 1,286,131 shares of the company’s stock valued at $17,363,000 after acquiring an additional 173,404 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.

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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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