Aerie Pharmaceuticals (NASDAQ:AERI)‘s stock had its “buy” rating reiterated by equities researchers at Mizuho in a note issued to investors on Wednesday. They currently have a $77.00 price objective on the stock. Mizuho’s price target indicates a potential upside of 58.83% from the stock’s previous close.
The analysts wrote, “We continue to believe that 2018 Rhopressa sales can land in the upper range of management guidance and recent performance reinforces our view.””
Other research analysts have also issued research reports about the company. BidaskClub lowered Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. ValuEngine raised Aerie Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. HC Wainwright set a $78.00 price target on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th. Needham & Company LLC set a $86.00 price target on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, July 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price target on shares of Aerie Pharmaceuticals in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. Aerie Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $82.30.
Aerie Pharmaceuticals (NASDAQ:AERI) last issued its earnings results on Tuesday, November 6th. The company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.33) by ($0.40). The firm had revenue of $7.30 million during the quarter, compared to analyst estimates of $5.63 million. On average, sell-side analysts forecast that Aerie Pharmaceuticals will post -4.51 earnings per share for the current fiscal year.
In other Aerie Pharmaceuticals news, insider Casey C. Kopczynski sold 11,000 shares of Aerie Pharmaceuticals stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $53.87, for a total transaction of $592,570.00. Following the transaction, the insider now owns 139,768 shares of the company’s stock, valued at $7,529,302.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard J. Rubino sold 34,512 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $60.17, for a total value of $2,076,587.04. Following the completion of the transaction, the chief financial officer now directly owns 383,738 shares in the company, valued at approximately $23,089,515.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 324,117 shares of company stock worth $19,459,226. 10.53% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of Aerie Pharmaceuticals by 20.0% in the second quarter. Amalgamated Bank now owns 5,441 shares of the company’s stock valued at $368,000 after purchasing an additional 906 shares during the period. BlackRock Inc. increased its holdings in shares of Aerie Pharmaceuticals by 9.0% in the second quarter. BlackRock Inc. now owns 2,991,101 shares of the company’s stock valued at $202,049,000 after purchasing an additional 246,686 shares during the period. UBS Group AG increased its holdings in shares of Aerie Pharmaceuticals by 142.3% in the first quarter. UBS Group AG now owns 9,409 shares of the company’s stock valued at $511,000 after purchasing an additional 5,526 shares during the period. Swiss National Bank increased its holdings in shares of Aerie Pharmaceuticals by 9.6% in the second quarter. Swiss National Bank now owns 59,100 shares of the company’s stock valued at $3,992,000 after purchasing an additional 5,200 shares during the period. Finally, Columbus Circle Investors increased its holdings in shares of Aerie Pharmaceuticals by 3.1% in the third quarter. Columbus Circle Investors now owns 798,376 shares of the company’s stock valued at $49,140,000 after purchasing an additional 24,196 shares during the period. 96.43% of the stock is currently owned by institutional investors and hedge funds.
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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