Aerie Pharmaceuticals (NASDAQ:AERI) Shares Down 5.4%

Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) traded down 5.4% on Wednesday . The stock traded as low as $17.77 and last traded at $17.85, 1,109,600 shares were traded during trading. An increase of 25% from the average session volume of 891,203 shares. The stock had previously closed at $18.87.

Several equities analysts recently issued reports on AERI shares. Citigroup restated an “outperform” rating and set a $45.00 price target (down from $65.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Cowen reiterated an “outperform” rating and issued a $50.00 price objective (down previously from $105.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, November 7th. Cantor Fitzgerald lowered their price objective on Aerie Pharmaceuticals from $62.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. JMP Securities dropped their price objective on Aerie Pharmaceuticals to $41.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Aerie Pharmaceuticals in a report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $42.17.

The business has a fifty day moving average of $20.39 and a 200-day moving average of $26.26. The company has a market cap of $876.86 million, a PE ratio of -3.84 and a beta of 0.51. The company has a current ratio of 5.43, a quick ratio of 5.23 and a debt-to-equity ratio of 0.94.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.02). The business had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.59 million. Aerie Pharmaceuticals had a negative return on equity of 77.63% and a negative net margin of 328.34%. As a group, research analysts predict that Aerie Pharmaceuticals Inc will post -3.89 EPS for the current year.

In related news, major shareholder Foresite Capital Management Ii bought 15,700 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $18.42 per share, with a total value of $289,194.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vicente Anido, Jr. bought 26,250 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $19.01 per share, for a total transaction of $499,012.50. Following the purchase, the chief executive officer now directly owns 195,631 shares in the company, valued at approximately $3,718,945.31. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 168,143 shares of company stock valued at $3,545,442. 8.71% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in Aerie Pharmaceuticals by 2,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock worth $43,000 after buying an additional 1,398 shares during the period. Endurance Wealth Management Inc. grew its holdings in shares of Aerie Pharmaceuticals by 173.7% during 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 period. NumerixS Investment Technologies Inc purchased a new position in shares of Aerie Pharmaceuticals during the 2nd quarter worth approximately $115,000. Bank of Montreal Can raised its position 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 in the last quarter. Finally, First Mercantile Trust Co. bought a new position in shares of Aerie Pharmaceuticals in the 2nd quarter worth approximately $134,000.

Aerie Pharmaceuticals Company Profile (NASDAQ:AERI)

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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