According to Zacks, “Aerie has been facing development setbacks and stiff competition in the glaucoma market. Since it has no approved product in its portfolio, any regulatory setback may have an adverse impact on the stock. Moreover overdependence on Rhopressa for growth is another matter of concern for the company. However, Aerie filed a new drug application for its lead candidate, Rhopressa, in the U.S. in the Sep 2016 for treatment of glaucoma. A potential approval and successful commercialization of the drug will significantly boost the company’s growth prospects. Estimates haveremained mostly stable ahead of the company’s Q3 earnings release. However, the company has a negative record of earnings surprises in recent quarters.”
Several other research firms have also recently weighed in on AERI. Needham & Company LLC reaffirmed a buy rating and set a $52.00 price objective (up from $45.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, September 15th. Brean Capital set a $48.00 price objective on Aerie Pharmaceuticals and gave the company a buy rating in a research report on Thursday, September 29th. Cantor Fitzgerald lifted their price objective on Aerie Pharmaceuticals from $44.00 to $50.00 and gave the company a buy rating in a research report on Thursday, September 15th. Canaccord Genuity set a $50.00 price objective on Aerie Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, September 14th. Finally, Royal Bank Of Canada lifted their price objective on Aerie Pharmaceuticals from $51.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, September 15th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $49.40.
Shares of Aerie Pharmaceuticals (NASDAQ:AERI) traded up 0.42% during mid-day trading on Tuesday, hitting $38.49. The company had a trading volume of 212,399 shares. The firm’s market capitalization is $1.07 billion. Aerie Pharmaceuticals has a 52 week low of $10.82 and a 52 week high of $41.72. The firm has a 50-day moving average price of $26.76 and a 200-day moving average price of $18.99.
Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.72) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.02. Equities analysts forecast that Aerie Pharmaceuticals will post ($2.80) earnings per share for the current year.
In other news, major shareholder Foresite Capital Fund Ii, L.P. acquired 250,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was bought at an average cost of $17.50 per share, for a total transaction of $4,375,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.77% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position in shares of Aerie Pharmaceuticals by 3.4% in the second quarter. Barclays PLC now owns 6,015 shares of the company’s stock worth $106,000 after buying an additional 200 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Aerie Pharmaceuticals by 15.0% in the second quarter. BlackRock Advisors LLC now owns 12,310 shares of the company’s stock worth $217,000 after buying an additional 1,608 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Aerie Pharmaceuticals during the second quarter worth $219,000. American International Group Inc. raised its stake in shares of Aerie Pharmaceuticals by 8.5% in the second quarter. American International Group Inc. now owns 13,864 shares of the company’s stock worth $244,000 after buying an additional 1,082 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Aerie Pharmaceuticals by 17.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 15,900 shares of the company’s stock worth $286,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.
About Aerie Pharmaceuticals
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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