Zacks: Brokerages Anticipate Aerie Pharmaceuticals Inc (AERI) to Post -$0.96 Earnings Per Share

Brokerages forecast that Aerie Pharmaceuticals Inc (NASDAQ:AERI) will report ($0.96) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Aerie Pharmaceuticals’ earnings, with estimates ranging from ($1.03) to ($0.82). Aerie Pharmaceuticals posted earnings per share of ($0.63) in the same quarter last year, which would suggest a negative year over year growth rate of 52.4%. The business is expected to report its next earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that Aerie Pharmaceuticals will report full-year earnings of ($3.56) per share for the current year, with EPS estimates ranging from ($3.63) to ($3.52). For the next year, analysts expect that the company will report earnings of ($1.65) per share, with EPS estimates ranging from ($2.15) to ($0.85). Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Aerie Pharmaceuticals.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings results on Tuesday, May 8th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.04.

AERI has been the topic of several research reports. HC Wainwright initiated coverage on Aerie Pharmaceuticals in a research report on Friday, February 16th. They issued a “buy” rating and a $78.00 target price on the stock. Zacks Investment Research raised Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, April 17th. ValuEngine raised Aerie Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub lowered Aerie Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Finally, Mizuho reaffirmed a “buy” rating and issued a $77.00 target price on shares of Aerie Pharmaceuticals in a research report on Wednesday, May 9th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $76.50.

In related news, Director Gerald D. Cagle purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was purchased at an average cost of $49.45 per share, for a total transaction of $49,450.00. Following the acquisition, the director now owns 16,050 shares in the company, valued at $793,672.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Casey C. Kopczynski sold 2,708 shares of the stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $50.15, for a total value of $135,806.20. Following the completion of the sale, the insider now owns 194,517 shares of the company’s stock, valued at $9,755,027.55. The disclosure for this sale can be found here. Insiders sold a total of 263,708 shares of company stock worth $16,249,556 over the last ninety days. Corporate insiders own 10.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Trail Advisors LLC increased its holdings in Aerie Pharmaceuticals by 12.1% in the 1st quarter. Summit Trail Advisors LLC now owns 11,922 shares of the company’s stock valued at $440,000 after purchasing an additional 1,283 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Aerie Pharmaceuticals in the 1st quarter valued at $942,000. Handelsbanken Fonder AB increased its holdings in Aerie Pharmaceuticals by 100.0% in the 1st quarter. Handelsbanken Fonder AB now owns 260,000 shares of the company’s stock valued at $14,105,000 after purchasing an additional 130,000 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Aerie Pharmaceuticals in the 1st quarter valued at $258,000. Finally, Royal Bank of Canada increased its holdings in Aerie Pharmaceuticals by 8.3% in the 1st quarter. Royal Bank of Canada now owns 32,875 shares of the company’s stock valued at $1,784,000 after purchasing an additional 2,511 shares in the last quarter.

Shares of Aerie Pharmaceuticals stock traded up $1.20 during trading hours on Friday, reaching $64.20. 15,767 shares of the company’s stock were exchanged, compared to its average volume of 355,562. Aerie Pharmaceuticals has a 52-week low of $47.05 and a 52-week high of $66.60. The firm has a market cap of $2.51 billion, a PE ratio of -18.99 and a beta of 0.94. The company has a quick ratio of 13.53, a current ratio of 13.57 and a debt-to-equity ratio of 0.52.

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 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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