Brean Capital reissued their buy rating on shares of Aerie Pharmaceuticals Inc. (NASDAQ:AERI) in a report released on Thursday morning. Brean Capital currently has a $63.00 target price on the stock, up from their prior target price of $48.00.
“At yesterday’s investor day, Aerie painted a clearer portrait of the current standard of care and competitive glaucoma treatment environment. Management also provided further insight into the recent Mercury 1 data for Roclatan, a closer look at how to measure the effectiveness of glaucoma treatment with added perspective from a former physician, as well as revisited what the company’s future value adding drivers will be and articulated the international strategy. We took the opportunity to dive deeper into our model, taking into account potential future European launches and Japanese clinical trials.”,” Brean Capital’s analyst wrote.
Several other equities research analysts have also recently weighed in on AERI. Zacks Investment Research raised shares of Aerie Pharmaceuticals from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a research report on Monday, July 4th. Stifel Nicolaus increased their price target on shares of Aerie Pharmaceuticals from $40.00 to $50.00 and gave the company a buy rating in a research report on Thursday, September 15th. Royal Bank Of Canada increased their price target on shares of Aerie Pharmaceuticals from $51.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, September 15th. Canaccord Genuity set a $50.00 price target on shares of Aerie Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, September 14th. Finally, RBC Capital Markets reissued an outperform rating and set a $55.00 price target (up previously from $51.00) on shares of Aerie Pharmaceuticals in a research report on Friday, September 16th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $51.40.
Aerie Pharmaceuticals (NASDAQ:AERI) opened at 39.74 on Thursday. The stock’s 50 day moving average is $29.77 and its 200-day moving average is $19.95. The firm’s market capitalization is $1.11 billion. Aerie Pharmaceuticals has a one year low of $10.82 and a one year high of $41.72.
Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings results 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. On average, analysts anticipate that Aerie Pharmaceuticals will post ($2.81) EPS for the current fiscal year.
In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. purchased 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 8.77% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Aerie Pharmaceuticals by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 132,146 shares of the company’s stock worth $2,325,000 after buying an additional 1,312 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in Aerie Pharmaceuticals by 1.7% in the second quarter. Tocqueville Asset Management L.P. now owns 42,300 shares of the company’s stock worth $744,000 after buying an additional 725 shares in the last quarter. Northpointe Capital LLC raised its stake in Aerie Pharmaceuticals by 64.9% in the second quarter. Northpointe Capital LLC now owns 481,769 shares of the company’s stock worth $8,479,000 after buying an additional 189,629 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Aerie Pharmaceuticals by 1.2% in the second quarter. Rice Hall James & Associates LLC now owns 158,932 shares of the company’s stock worth $2,797,000 after buying an additional 1,909 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in Aerie Pharmaceuticals by 472.3% in the second quarter. Essex Investment Management Co. LLC now owns 107,700 shares of the company’s stock worth $1,896,000 after buying an additional 88,880 shares in the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.
Aerie Pharmaceuticals Company Profile
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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