Aerie Pharmaceuticals (AERI) Cut to “Sell” at BidaskClub

Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on AERI. Cantor Fitzgerald reissued a “buy” rating and issued a $86.00 price objective on shares of Aerie Pharmaceuticals in a report on Tuesday, October 2nd. ValuEngine lowered Aerie Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 6th. Mizuho reissued a “buy” rating and issued a $77.00 price objective on shares of Aerie Pharmaceuticals in a report on Wednesday. Zacks Investment Research lowered Aerie Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $86.00 price objective on shares of Aerie Pharmaceuticals in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Aerie Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $82.30.

Shares of AERI stock opened at $47.76 on Friday. The company has a current ratio of 10.27, a quick ratio of 10.07 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $2.47 billion, a PE ratio of -14.17 and a beta of 0.99. Aerie Pharmaceuticals has a fifty-two week low of $47.06 and a fifty-two week high of $74.75.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings data 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 firm had revenue of $7.30 million during the quarter, compared to analyst estimates of $5.63 million. Research analysts anticipate that Aerie Pharmaceuticals will post -4.51 EPS for the current year.

In other news, COO Thomas A. Mitro sold 190,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $60.27, for a total value of $11,451,300.00. Following the sale, the chief operating officer now owns 234,147 shares in the company, valued at $14,112,039.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Casey C. Kopczynski sold 11,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $53.87, for a total value of $592,570.00. Following the completion of the sale, the insider now owns 139,768 shares in the company, valued at approximately $7,529,302.16. The disclosure for this sale can be found here. Insiders sold 324,117 shares of company stock worth $19,459,226 in the last 90 days. Company insiders own 10.53% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Aerie Pharmaceuticals by 4.5% in the third quarter. BlackRock Inc. now owns 3,124,340 shares of the company’s stock valued at $192,304,000 after purchasing an additional 133,239 shares during the last quarter. Girard Partners LTD. acquired a new stake in shares of Aerie Pharmaceuticals in the third quarter valued at approximately $105,000. Alliancebernstein L.P. increased its holdings in shares of Aerie Pharmaceuticals by 12.8% in the third quarter. Alliancebernstein L.P. now owns 470,336 shares of the company’s stock valued at $28,949,000 after purchasing an additional 53,484 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Aerie Pharmaceuticals by 5.8% in the third quarter. Jennison Associates LLC now owns 1,386,211 shares of the company’s stock valued at $85,321,000 after purchasing an additional 76,390 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Aerie Pharmaceuticals by 7.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 70,477 shares of the company’s stock valued at $4,338,000 after purchasing an additional 4,929 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.

Aerie Pharmaceuticals Company Profile

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.

Read More: Tariff

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

Receive News & Ratings for Aerie Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerie Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply