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

Cowen reiterated their outperform rating on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research report report published on Thursday, November 7th, The Fly reports. They currently have a $50.00 target price on the stock, down from their previous target price of $105.00.

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Several other research firms have also recently commented on AERI. Piper Jaffray Companies restated a buy rating on shares of Aerie Pharmaceuticals in a research report on Tuesday, October 15th. Mizuho reiterated a buy rating and issued a $54.00 price objective (down from $63.00) on shares of Aerie Pharmaceuticals in a report on Thursday, November 7th. JMP Securities cut their price objective on Aerie Pharmaceuticals from $58.00 to $52.00 and set a market outperform rating for the company in a report on Thursday, August 8th. ValuEngine lowered Aerie Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, November 4th. Finally, HC Wainwright lowered their target price on Aerie Pharmaceuticals from $55.00 to $41.00 and set a buy rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Aerie Pharmaceuticals presently has an average rating of Buy and a consensus target price of $43.33.

Shares of Aerie Pharmaceuticals stock traded up $0.70 on Thursday, reaching $18.93. 684,300 shares of the company were exchanged, compared to its average volume of 1,323,314. The company has a market capitalization of $844.44 million, a price-to-earnings ratio of -4.07 and a beta of 0.51. The company has a 50-day moving average of $20.55 and a 200 day moving average of $26.77. The company has a current ratio of 5.43, a quick ratio of 5.23 and a debt-to-equity ratio of 0.94. Aerie Pharmaceuticals has a one year low of $17.51 and a one year high of $50.10.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.02). The firm had revenue of $18.54 million during the quarter, compared to the consensus estimate of $17.59 million. Aerie Pharmaceuticals had a negative net margin of 328.34% and a negative return on equity of 77.63%. Analysts predict that Aerie Pharmaceuticals will post -3.89 earnings per share for the current year.

In other news, CFO Richard J. Rubino purchased 5,040 shares of the stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $19.93 per share, with a total value of $100,447.20. Following the acquisition, the chief financial officer now directly owns 339,446 shares of the company’s stock, valued at $6,765,158.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Foresite Capital Management Ii bought 1,153 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this purchase can be found here. Insiders have bought a total of 173,143 shares of company stock worth $3,662,038 over the last three months. Insiders own 8.71% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Aerie Pharmaceuticals by 1.2% during the third quarter. Rhumbline Advisers now owns 58,234 shares of the company’s stock valued at $1,119,000 after acquiring an additional 663 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Aerie Pharmaceuticals by 2,330.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock worth $43,000 after acquiring an additional 1,398 shares in the last quarter. Endurance Wealth Management Inc. raised its position in shares of Aerie Pharmaceuticals by 173.7% in the 3rd quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock worth $50,000 after acquiring an additional 1,650 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Aerie Pharmaceuticals by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,595 shares of the company’s stock worth $337,000 after acquiring an additional 2,953 shares in the last quarter. Finally, Dupont Capital Management Corp raised its position in shares of Aerie Pharmaceuticals by 20.6% in the 2nd quarter. Dupont Capital Management Corp now owns 17,845 shares of the company’s stock worth $527,000 after acquiring an additional 3,048 shares in the last quarter.

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: Sell-Side Analysts

The Fly

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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