BidaskClub Lowers Aerie Pharmaceuticals (NASDAQ:AERI) to Hold

BidaskClub cut shares of Aerie Pharmaceuticals (NASDAQ:AERI) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Several other equities research analysts also recently commented on AERI. Guggenheim initiated coverage on Aerie Pharmaceuticals in a report on Tuesday, September 8th. They set a buy rating and a $20.00 target price for the company. Mizuho reaffirmed a buy rating and set a $28.00 target price on shares of Aerie Pharmaceuticals in a report on Monday, December 28th. Bank of America downgraded Aerie Pharmaceuticals from a neutral rating to an underperform rating and reduced their price objective for the stock from $14.00 to $9.00 in a research note on Monday, October 19th. HC Wainwright reduced their price objective on Aerie Pharmaceuticals from $31.00 to $29.00 and set a buy rating for the company in a research note on Monday, November 9th. Finally, Needham & Company LLC reissued a buy rating and issued a $26.00 price objective on shares of Aerie Pharmaceuticals in a research note on Monday, December 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $25.17.

Shares of AERI stock opened at $13.51 on Wednesday. The stock has a 50-day simple moving average of $12.98 and a 200 day simple moving average of $12.39. Aerie Pharmaceuticals has a fifty-two week low of $9.01 and a fifty-two week high of $26.26. The stock has a market capitalization of $632.47 million, a P/E ratio of -3.22 and a beta of 0.80. The company has a quick ratio of 3.10, a current ratio of 3.33 and a debt-to-equity ratio of 3.41.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its earnings results on Tuesday, November 10th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.16. Aerie Pharmaceuticals had a negative return on equity of 135.57% and a negative net margin of 231.05%. The business had revenue of $20.08 million during the quarter, compared to the consensus estimate of $19.23 million. On average, sell-side analysts anticipate that Aerie Pharmaceuticals will post -3.76 earnings per share for the current year.

In other Aerie Pharmaceuticals news, insider Casey C. Kopczynski sold 7,305 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $13.00, for a total value of $94,965.00. Following the completion of the sale, the insider now owns 218,809 shares in the company, valued at approximately $2,844,517. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.72% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new stake in shares of Aerie Pharmaceuticals in the 3rd quarter worth approximately $27,000. Bank of Montreal Can lifted its position in shares of Aerie Pharmaceuticals by 445.9% during the 2nd quarter. Bank of Montreal Can now owns 2,937 shares of the company’s stock worth $38,000 after buying an additional 2,399 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Aerie Pharmaceuticals during the 2nd quarter worth approximately $51,000. State of Tennessee Treasury Department bought a new position in shares of Aerie Pharmaceuticals during the 2nd quarter worth approximately $62,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Aerie Pharmaceuticals by 214.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,331 shares of the company’s stock worth $64,000 after buying an additional 2,955 shares during the period. Institutional investors own 96.03% 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, dry eye, retinal diseases, and other eye diseases. Its products include Rhopressa, a once-daily eye drop to reduce elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension; and Rocklatan, a once-daily fixed-dose combination of Rhopressa and latanopros to reduce IOP to treat patients with open-angle glaucoma and ocular hypertension.

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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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