Needham & Company LLC Analysts Give Aerie Pharmaceuticals (NASDAQ:AERI) a $54.00 Price Target

Needham & Company LLC set a $54.00 target price on Aerie Pharmaceuticals (NASDAQ:AERI) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a buy rating on the stock.

AERI has been the topic of a number of other research reports. Zacks Investment Research raised Aerie Pharmaceuticals from a sell rating to a hold rating and set a $31.00 price objective on the stock in a research note on Friday, June 28th. Citigroup reissued an outperform rating and issued a $45.00 price objective (down previously from $65.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an overweight rating and issued a $62.00 price objective (down previously from $85.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. ValuEngine raised Aerie Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Mizuho set a $63.00 price objective on Aerie Pharmaceuticals and gave the stock a buy rating in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Aerie Pharmaceuticals has a consensus rating of Buy and a consensus price target of $58.83.

Aerie Pharmaceuticals stock traded down $0.74 during mid-day trading on Friday, hitting $20.51. 1,481,513 shares of the company’s stock traded hands, compared to its average volume of 1,458,477. The firm has a 50 day moving average price of $20.76 and a 200 day moving average price of $29.74. The company has a quick ratio of 2.35, a current ratio of 2.52 and a debt-to-equity ratio of 0.08. The company has a market cap of $976.21 million, a PE ratio of -4.41 and a beta of 0.53. Aerie Pharmaceuticals has a one year low of $17.51 and a one year high of $60.04.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its earnings results on Wednesday, August 7th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.07. The firm had revenue of $15.84 million for the quarter, compared to the consensus estimate of $14.60 million. Aerie Pharmaceuticals had a negative return on equity of 89.52% and a negative net margin of 478.81%. On average, analysts expect that Aerie Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

In related news, major shareholder Foresite Capital Management Ii bought 189,555 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $24.43 per share, for a total transaction of $4,630,828.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vicente Anido, Jr. bought 26,250 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $19.01 per share, for a total transaction of $499,012.50. Following the completion of the acquisition, the chief executive officer now directly owns 195,631 shares in the company, valued at $3,718,945.31. The disclosure for this purchase can be found here. Insiders bought a total of 562,698 shares of company stock worth $13,088,866 in the last three months. Company insiders own 8.71% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AERI. Tower Research Capital LLC TRC grew its holdings in shares of Aerie Pharmaceuticals by 2,330.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock worth $43,000 after acquiring an additional 1,398 shares during the last quarter. Endurance Wealth Management Inc. grew its holdings in shares of Aerie Pharmaceuticals by 173.7% in the 3rd quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock worth $50,000 after acquiring an additional 1,650 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $115,000. Bank of Montreal Can grew its holdings in shares of Aerie Pharmaceuticals by 497.8% in the 2nd quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock worth $119,000 after acquiring an additional 3,350 shares during the last quarter. Finally, First Mercantile Trust Co. acquired a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth $134,000.

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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