JMP Securities Reiterates $80.00 Price Target for Aerie Pharmaceuticals (AERI)

JMP Securities set a $80.00 price target on Aerie Pharmaceuticals (NASDAQ:AERI) in a research report report published on Wednesday. The brokerage currently has a buy rating on the stock.

AERI has been the topic of several other reports. Stifel Nicolaus lifted their price objective on Aerie Pharmaceuticals from $80.00 to $87.00 and gave the company a buy rating in a research report on Tuesday, September 11th. Canaccord Genuity reaffirmed a buy rating and set a $86.00 price objective on shares of Aerie Pharmaceuticals in a research report on Friday, August 10th. Cowen lifted their price objective on Aerie Pharmaceuticals from $100.00 to $105.00 and gave the company a buy rating in a research report on Thursday, August 9th. HC Wainwright set a $78.00 price objective on Aerie Pharmaceuticals and gave the company a buy rating in a research report on Thursday, August 9th. Finally, BidaskClub cut Aerie Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Aerie Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $82.09.

NASDAQ AERI opened at $55.37 on Wednesday. The company has a current ratio of 10.27, a quick ratio of 10.07 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $2.78 billion, a P/E ratio of -16.43 and a beta of 0.78. Aerie Pharmaceuticals has a 1 year low of $47.06 and a 1 year high of $74.75.

Aerie Pharmaceuticals (NASDAQ:AERI) last posted its earnings results on Wednesday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.98) by ($0.16). The company had revenue of $2.42 million during the quarter, compared to the consensus estimate of $1.16 million. As a group, analysts anticipate that Aerie Pharmaceuticals will post -4.51 EPS for the current fiscal year.

In other news, CFO Richard J. Rubino sold 34,512 shares of Aerie Pharmaceuticals stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $60.17, for a total transaction of $2,076,587.04. Following the completion of the transaction, the chief financial officer now directly owns 383,738 shares in the company, valued at $23,089,515.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Casey C. Kopczynski sold 11,000 shares of Aerie Pharmaceuticals stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $68.30, for a total transaction of $751,300.00. Following the transaction, the insider now owns 163,307 shares of the company’s stock, valued at $11,153,868.10. The disclosure for this sale can be found here. Insiders have sold 324,117 shares of company stock valued at $19,617,956 over the last quarter. Company insiders own 10.53% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Aerie Pharmaceuticals by 9.0% during the second quarter. BlackRock Inc. now owns 2,991,101 shares of the company’s stock valued at $202,049,000 after purchasing an additional 246,686 shares during the last quarter. FMR LLC lifted its holdings in shares of Aerie Pharmaceuticals by 25.4% during the second quarter. FMR LLC now owns 1,095,652 shares of the company’s stock valued at $74,011,000 after purchasing an additional 221,582 shares during the last quarter. Columbus Circle Investors lifted its holdings in shares of Aerie Pharmaceuticals by 22.7% during the second quarter. Columbus Circle Investors now owns 774,180 shares of the company’s stock valued at $52,296,000 after purchasing an additional 143,133 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Aerie Pharmaceuticals by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 630,612 shares of the company’s stock valued at $42,597,000 after purchasing an additional 32,820 shares during the last quarter. Finally, Waddell & Reed Financial Inc. lifted its holdings in shares of Aerie Pharmaceuticals by 1.6% during the second quarter. Waddell & Reed Financial Inc. now owns 460,717 shares of the company’s stock valued at $31,122,000 after purchasing an additional 7,170 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Aerie Pharmaceuticals Company Profile

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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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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