Aerie Pharmaceuticals (AERI) Downgraded to Sell at BidaskClub

Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

AERI has been the topic of a number of other reports. ValuEngine lowered shares of Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, November 27th. Mizuho reiterated a “buy” rating and issued a $77.00 target price on shares of Aerie Pharmaceuticals in a report on Tuesday, November 27th. Zacks Investment Research lowered shares of Aerie Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Canaccord Genuity set a $65.00 target price on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Oppenheimer assumed coverage on shares of Aerie Pharmaceuticals in a report on Monday, December 3rd. They issued a “buy” rating and a $64.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Aerie Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $77.45.

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AERI opened at $43.07 on Friday. The stock has a market cap of $2.03 billion, a P/E ratio of -12.78 and a beta of 1.10. Aerie Pharmaceuticals has a twelve month low of $32.18 and a twelve month high of $74.75.

Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings results on Tuesday, November 6th. The company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.33) by ($0.40). The company had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $5.63 million. Analysts anticipate that Aerie Pharmaceuticals will post -5.46 EPS for the current fiscal year.

In other Aerie Pharmaceuticals news, insider Casey C. Kopczynski sold 11,000 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $46.17, for a total value of $507,870.00. Following the transaction, the insider now directly owns 97,243 shares in the company, valued at approximately $4,489,709.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald D. Cagle bought 2,000 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was purchased at an average price of $41.75 per share, for a total transaction of $83,500.00. The disclosure for this purchase can be found here. Insiders sold a total of 33,000 shares of company stock worth $1,333,090 over the last quarter. 10.53% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Aerie Pharmaceuticals by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,887,580 shares of the company’s stock valued at $239,281,000 after acquiring an additional 436,964 shares during the period. Vanguard Group Inc raised its stake in shares of Aerie Pharmaceuticals by 12.7% in the 3rd quarter. Vanguard Group Inc now owns 3,887,580 shares of the company’s stock valued at $239,281,000 after acquiring an additional 436,964 shares during the period. BlackRock Inc. raised its stake in shares of Aerie Pharmaceuticals by 4.5% in the 3rd quarter. BlackRock Inc. now owns 3,124,340 shares of the company’s stock valued at $192,304,000 after acquiring an additional 133,239 shares during the period. Jennison Associates LLC raised its stake in shares of Aerie Pharmaceuticals by 5.8% in the 3rd quarter. Jennison Associates LLC now owns 1,386,211 shares of the company’s stock valued at $85,321,000 after acquiring an additional 76,390 shares during the period. Finally, Columbus Circle Investors raised its stake in shares of Aerie Pharmaceuticals by 3.1% in the 3rd quarter. Columbus Circle Investors now owns 798,376 shares of the company’s stock valued at $49,140,000 after acquiring an additional 24,196 shares during the period.

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 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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