Aerie Pharmaceuticals’ (AERI) Buy Rating Reaffirmed at Brean Capital
Aerie Pharmaceuticals Inc. (NASDAQ:AERI)‘s stock had its “buy” rating reiterated by stock analysts at Brean Capital in a research note issued on Thursday. They currently have a $63.00 price target on the stock, up from their previous price target of $48.00. Brean Capital’s target price would suggest a potential upside of 55.59% from the stock’s current price.
The analysts wrote, “At yesterday’s investor day, Aerie painted a clearer portrait of the current standard of care and competitive glaucoma treatment environment. Management also provided further insight into the recent Mercury 1 data for Roclatan, a closer look at how to measure the effectiveness of glaucoma treatment with added perspective from a former physician, as well as revisited what the company’s future value adding drivers will be and articulated the international strategy. We took the opportunity to dive deeper into our model, taking into account potential future European launches and Japanese clinical trials.””
Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, September 15th. Stifel Nicolaus lifted their price target on Aerie Pharmaceuticals from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research raised Aerie Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 12th. Royal Bank Of Canada lifted their target price on Aerie Pharmaceuticals from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, September 15th. Finally, HC Wainwright began coverage on Aerie Pharmaceuticals in a research note on Tuesday, September 20th. They set a “buy” rating and a $66.00 target price on the stock. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $51.40.
Shares of Aerie Pharmaceuticals (NASDAQ:AERI) opened at 40.49 on Thursday. The firm’s market cap is $1.13 billion. The company’s 50-day moving average is $28.57 and its 200-day moving average is $19.49. Aerie Pharmaceuticals has a 52-week low of $10.82 and a 52-week high of $41.72.
Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.72) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.74) by $0.02. Equities research analysts forecast that Aerie Pharmaceuticals will post ($2.81) earnings per share for the current fiscal year.
In other news, major shareholder Foresite Capital Fund Ii, L.P. sold 50,000 shares of Aerie Pharmaceuticals stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $40.34, for a total transaction of $2,017,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.77% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Jennison Associates LLC raised its stake in shares of Aerie Pharmaceuticals by 0.6% in the second quarter. Jennison Associates LLC now owns 3,711,695 shares of the company’s stock valued at $65,326,000 after buying an additional 21,505 shares in the last quarter. Deerfield Management Co. raised 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. raised its stake in shares of Aerie Pharmaceuticals by 3.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $36,960,000 after buying an additional 75,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Aerie Pharmaceuticals by 11.1% in the second quarter. Vanguard Group Inc. now owns 1,006,552 shares of the company’s stock valued at $17,716,000 after buying an additional 100,645 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Aerie Pharmaceuticals by 10.5% in the second quarter. BlackRock Fund Advisors now owns 971,896 shares of the company’s stock valued at $17,105,000 after buying an additional 92,113 shares in the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.
Aerie Pharmaceuticals Company Profile
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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