Pictet Asset Management Ltd. Increases Stake in Aerie Pharmaceuticals Inc (NASDAQ:AERI)

Pictet Asset Management Ltd. increased its position in shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 930,723 shares of the company’s stock after buying an additional 120,313 shares during the period. Pictet Asset Management Ltd. owned about 2.03% of Aerie Pharmaceuticals worth $27,503,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AERI. Quantamental Technologies LLC bought a new stake in Aerie Pharmaceuticals during the first quarter valued at about $41,000. Bank of Montreal Can boosted its holdings in Aerie Pharmaceuticals by 497.8% in the second quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock worth $119,000 after acquiring an additional 3,350 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in Aerie Pharmaceuticals in the second quarter worth about $134,000. Atria Investments LLC acquired a new stake in Aerie Pharmaceuticals in the second quarter worth about $811,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Aerie Pharmaceuticals by 711.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the company’s stock worth $403,000 after acquiring an additional 7,437 shares in the last quarter.

Shares of NASDAQ:AERI traded down $0.74 during trading on Friday, hitting $22.37. The stock had a trading volume of 28,214 shares, compared to its average volume of 1,133,003. Aerie Pharmaceuticals Inc has a 12-month low of $18.02 and a 12-month high of $63.20. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.89 and a beta of 0.47. The company has a quick ratio of 2.35, a current ratio of 2.52 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $22.23 and a two-hundred day simple moving average of $34.29.



Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.07. Aerie Pharmaceuticals had a negative return on equity of 89.52% and a negative net margin of 478.81%. The firm had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $14.60 million. As a group, sell-side analysts forecast that Aerie Pharmaceuticals Inc will post -3.48 earnings per share for the current year.

Several brokerages have weighed in on AERI. Citigroup reissued an “outperform” rating and issued a $45.00 price target (down previously from $65.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Canaccord Genuity set a $56.00 price target on Aerie Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $62.00 price target (down previously from $85.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. BidaskClub raised Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target (down previously from $74.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Aerie Pharmaceuticals has an average rating of “Buy” and an average price target of $58.83.

In other news, CEO Vicente Anido, Jr. acquired 26,250 shares of Aerie Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $19.01 per share, for a total transaction of $499,012.50. Following the completion of the purchase, the chief executive officer now directly owns 195,631 shares in the company, valued at approximately $3,718,945.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Foresite Capital Fund Ii, L.P. acquired 46,153 shares of Aerie Pharmaceuticals stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $23.45 per share, with a total value of $1,082,287.85. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 562,698 shares of company stock valued at $13,088,866. Company insiders own 8.71% of the company’s stock.

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.

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Institutional Ownership by Quarter for Aerie Pharmaceuticals (NASDAQ:AERI)

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