Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) shot up 6.3% on Wednesday . The stock traded as high as $20.64 and last traded at $20.28, 1,385,000 shares traded hands during mid-day trading. An increase of 56% from the average session volume of 887,969 shares. The stock had previously closed at $19.08.

A number of research firms have issued reports on AERI. Cowen restated an “outperform” rating and issued a $50.00 target price (down from $105.00) on shares of Aerie Pharmaceuticals in a report on Thursday, November 7th. JMP Securities lowered their price target on shares of Aerie Pharmaceuticals to $41.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. ValuEngine lowered shares of Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC started coverage on shares of Aerie Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Cantor Fitzgerald reduced their price objective on shares of Aerie Pharmaceuticals from $62.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.58.

The company has a 50-day moving average of $20.16 and a two-hundred day moving average of $24.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.43 and a quick ratio of 5.23. The stock has a market capitalization of $939.62 million, a PE ratio of -4.27 and a beta of 0.45.

Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Aerie Pharmaceuticals had a negative net margin of 328.34% and a negative return on equity of 77.63%. The business had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.59 million. On average, research analysts forecast that Aerie Pharmaceuticals Inc will post -3.89 EPS for the current fiscal year.

In related news, CFO Richard J. Rubino purchased 5,040 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $19.93 per share, with a total value of $100,447.20. Following the completion of the transaction, the chief financial officer now owns 339,446 shares of the company’s stock, valued at approximately $6,765,158.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vicente Anido, Jr. purchased 26,250 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $19.01 per share, with a total value of $499,012.50. Following the transaction, the chief executive officer now directly owns 195,631 shares of the company’s stock, valued at approximately $3,718,945.31. The disclosure for this purchase can be found here. Corporate insiders own 8.71% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AERI. Tower Research Capital LLC TRC grew its stake 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 buying an additional 1,398 shares during the period. Endurance Wealth Management Inc. increased its holdings 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 worth $50,000 after buying an additional 1,650 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Aerie Pharmaceuticals during the 2nd quarter worth $115,000. Bank of Montreal Can increased its holdings 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 worth $119,000 after buying an additional 3,350 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $134,000.

About Aerie Pharmaceuticals (NASDAQ:AERI)

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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