Several other brokerages also recently commented on AERI. Piper Jaffray Companies decreased their price objective on shares of Aerie Pharmaceuticals from $76.00 to $53.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. HC Wainwright restated a buy rating and set a $57.00 price objective on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Canaccord Genuity set a $56.00 price objective on shares of Aerie Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Aerie Pharmaceuticals from a sell rating to a hold rating and set a $31.00 price objective on the stock in a research report on Friday, June 28th. Finally, Citigroup restated an outperform rating and set a $45.00 price objective (down from $65.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of Buy and an average price target of $58.83.
AERI opened at $22.09 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.35 and a debt-to-equity ratio of 0.08. Aerie Pharmaceuticals has a 1-year low of $18.02 and a 1-year high of $63.20. The company has a market capitalization of $1.06 billion, a PE ratio of -4.75 and a beta of 0.47. The firm’s 50 day simple moving average is $22.20 and its two-hundred day simple moving average is $34.20.
In related news, major shareholder Foresite Capital Fund Ii, L.P. purchased 46,153 shares of Aerie Pharmaceuticals stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $23.45 per share, for a total transaction of $1,082,287.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard J. Rubino purchased 5,040 shares of Aerie Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was bought at an average price of $19.93 per share, for a total transaction of $100,447.20. Following the completion of the acquisition, the chief financial officer now owns 339,446 shares in the company, valued at approximately $6,765,158.78. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 562,698 shares of company stock worth $13,088,866. 8.71% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new position in shares of Aerie Pharmaceuticals in the 1st quarter worth $47,000. Atria Investments LLC purchased a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $811,000. GSA Capital Partners LLP purchased a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $715,000. Fox Run Management L.L.C. purchased a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $276,000. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Aerie Pharmaceuticals by 330.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 29,254 shares of the company’s stock worth $864,000 after buying an additional 22,461 shares in 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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