Aerie Pharmaceuticals (NASDAQ:AERI) Stock Rating Reaffirmed by Needham & Company LLC

Aerie Pharmaceuticals (NASDAQ:AERI)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $54.00 target price on the stock, down from their prior target price of $74.00. Needham & Company LLC’s target price would suggest a potential upside of 129.59% from the company’s previous close.

A number of other brokerages also recently issued reports on AERI. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Aerie Pharmaceuticals in a research report on Wednesday, July 24th. Canaccord Genuity set a $56.00 price objective on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Zacks Investment Research raised shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research report on Friday, June 28th. Mizuho set a $77.00 price objective on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, BidaskClub downgraded shares of Aerie Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $62.08.

Shares of AERI stock opened at $23.52 on Thursday. Aerie Pharmaceuticals has a 52-week low of $20.72 and a 52-week high of $65.90. The company has a quick ratio of 3.27, a current ratio of 3.47 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $25.11.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.07. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 82.33%. The business had revenue of $15.84 million during the quarter, compared to the consensus estimate of $14.60 million. On average, equities analysts expect that Aerie Pharmaceuticals will post -2.97 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AERI. Charles Schwab Investment Management Inc. increased its holdings in shares of Aerie Pharmaceuticals by 7.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 234,913 shares of the company’s stock worth $6,942,000 after buying an additional 16,668 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Aerie Pharmaceuticals by 330.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 29,254 shares of the company’s stock worth $864,000 after buying an additional 22,461 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $443,000. Atria Investments LLC bought a new position in shares of Aerie Pharmaceuticals during the 2nd quarter valued at $811,000. Finally, Bank of Montreal Can grew its holdings in shares of Aerie Pharmaceuticals by 497.8% during the 2nd quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock valued at $119,000 after purchasing an additional 3,350 shares during the last quarter.

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, retinal diseases, 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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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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