Aerie Pharmaceuticals, Inc. (AERI) Lowered to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) from a sell rating to a strong sell rating in a report published on Saturday.

AERI has been the topic of a number of other research reports. HC Wainwright reissued a buy rating and set a $69.00 price objective on shares of Aerie Pharmaceuticals in a report on Wednesday, May 3rd. Raymond James Financial, Inc. downgraded shares of Aerie Pharmaceuticals from a strong-buy rating to a market perform rating and set a $48.00 target price on the stock. in a research report on Thursday, March 9th. They noted that the move was a valuation call. Aegis restated an in-line rating and set a $63.00 target price on shares of Aerie Pharmaceuticals in a research report on Wednesday, March 8th. Cowen and Company began coverage on shares of Aerie Pharmaceuticals in a research report on Friday, February 24th. They set an outperform rating and a $70.00 target price on the stock. Finally, Needham & Company LLC upped their target price on shares of Aerie Pharmaceuticals from $58.00 to $65.00 and gave the company a buy rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Aerie Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $61.00.

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

Aerie Pharmaceuticals (AERI) traded down 0.89% during mid-day trading on Friday, hitting $50.05. 1,292,036 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $46.45 and a 200 day moving average of $43.84. Aerie Pharmaceuticals has a 52 week low of $16.45 and a 52 week high of $59.50. The stock’s market capitalization is $1.68 billion.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by $0.02. Equities analysts forecast that Aerie Pharmaceuticals will post ($2.59) earnings per share for the current fiscal year.

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In related news, major shareholder Foresite Capital Fund Ii, L.P. sold 20,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $55.95, for a total transaction of $1,119,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald D. Cagle bought 2,000 shares of the stock in a transaction that occurred on Wednesday, April 19th. The shares were acquired at an average cost of $41.70 per share, with a total value of $83,400.00. Following the completion of the purchase, the director now owns 10,900 shares in the company, valued at approximately $454,530. The disclosure for this purchase can be found here. 9.36% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at $107,000. Ameritas Investment Partners Inc. acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at $108,000. Federated Investors Inc. PA boosted its position in shares of Aerie Pharmaceuticals by 88.7% in the fourth quarter. Federated Investors Inc. PA now owns 4,447 shares of the company’s stock valued at $168,000 after buying an additional 2,090 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at $202,000. Finally, Karp Capital Management Corp acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at $213,000. 91.82% of the stock is owned by institutional investors and hedge funds.

About Aerie Pharmaceuticals

Aerie Pharmaceuticals, Inc is a clinical-stage pharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The Company’s product candidates include Rhopressa (netarsudil ophthalmic solution) 0.02% (Rhopressa), and Roclatan (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005% (Roclatan).

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