Aerie Pharmaceuticals (NASDAQ:AERI) announced its quarterly earnings results on Tuesday. The company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.33) by ($0.40), Fidelity Earnings reports. The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $5.63 million.
NASDAQ:AERI traded down $3.52 during trading hours on Wednesday, reaching $51.03. 2,878,909 shares of the stock were exchanged, compared to its average volume of 406,647. The company has a market cap of $2.43 billion, a PE ratio of -15.14 and a beta of 0.99. Aerie Pharmaceuticals has a 52 week low of $47.06 and a 52 week high of $74.75. The company has a quick ratio of 10.07, a current ratio of 10.27 and a debt-to-equity ratio of 0.64.
Several equities research analysts have commented on the company. Cowen set a $105.00 price target on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday. Mizuho restated a “buy” rating and set a $77.00 price target on shares of Aerie Pharmaceuticals in a research note on Wednesday. BidaskClub upgraded Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, October 15th. Zacks Investment Research upgraded Aerie Pharmaceuticals from a “sell” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, October 10th. Finally, JMP Securities set a $80.00 target price on Aerie Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $82.30.
Several hedge funds and other institutional investors have recently made changes to their positions in AERI. Fox Run Management L.L.C. bought a new stake in shares of Aerie Pharmaceuticals in the 3rd quarter worth approximately $201,000. Xact Kapitalforvaltning AB bought a new stake in shares of Aerie Pharmaceuticals in the 1st quarter worth approximately $258,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Aerie Pharmaceuticals by 48.6% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,370 shares of the company’s stock worth $269,000 after purchasing an additional 1,430 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Aerie Pharmaceuticals in the 2nd quarter worth approximately $276,000. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of Aerie Pharmaceuticals in the 3rd quarter worth approximately $334,000. 96.43% of the stock is currently owned by institutional investors and hedge funds.
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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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