Aerie Pharmaceuticals Inc. (AERI) Trading Up 4% After Analyst Upgrade
Aerie Pharmaceuticals Inc. (NASDAQ:AERI)’s share price was up 4% during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $50.00 to $55.00. Stifel Nicolaus currently has a buy rating on the stock. Aerie Pharmaceuticals traded as high as $40.95 and last traded at $40.83, with a volume of 713,318 shares. The stock had previously closed at $39.26.
Other equities analysts have also issued research reports about the stock. Canaccord Genuity set a $50.00 target price on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Brean Capital set a $48.00 target price on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price (up previously from $45.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, September 15th. Cantor Fitzgerald boosted their target price on shares of Aerie Pharmaceuticals from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. Finally, Zacks Investment Research raised shares of Aerie Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $51.40.
In other news, major shareholder Foresite Capital Fund Ii, L.P. bought 250,000 shares of Aerie Pharmaceuticals stock in a transaction dated Friday, July 22nd. The shares were bought at an average price of $17.50 per share, for a total transaction of $4,375,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.77% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Deerfield Management Co. increased its stake in shares of Aerie Pharmaceuticals by 225.9% in the first quarter. Deerfield Management Co. now owns 2,632,482 shares of the company’s stock valued at $32,011,000 after buying an additional 1,824,607 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Aerie Pharmaceuticals by 24.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,025,000 shares of the company’s stock valued at $24,624,000 after buying an additional 400,000 shares in the last quarter. Northpointe Capital LLC increased its stake in shares of Aerie Pharmaceuticals by 64.9% in the second quarter. Northpointe Capital LLC now owns 481,769 shares of the company’s stock valued at $8,479,000 after buying an additional 189,629 shares in the last quarter. Spark Investment Management LLC purchased a new stake in shares of Aerie Pharmaceuticals during the first quarter valued at approximately $1,968,000. Finally, Suffolk Capital Management LLC purchased a new stake in shares of Aerie Pharmaceuticals during the second quarter valued at approximately $2,094,000. Institutional investors own 95.22% of the company’s stock.
The stock’s market cap is $1.13 billion. The company’s 50 day moving average is $27.34 and its 200 day moving average is $19.13.
Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.72) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.74) by $0.02. Analysts expect that Aerie Pharmaceuticals Inc. will post ($2.80) earnings per share for the current fiscal year.
About Aerie Pharmaceuticals
Aerie Pharmaceuticals, Inc is a clinical-stage pharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The Company’s primary product candidates are Rhopressa and Roclatan.
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