Brean Capital Reaffirms “Buy” Rating for Aerie Pharmaceuticals Inc. (AERI)
Brean Capital restated their buy rating on shares of Aerie Pharmaceuticals Inc. (NASDAQ:AERI) in a research note published on Thursday. They currently have a $63.00 price objective on the stock, up from their previous price objective of $48.00.
“At yesterday’s investor day, Aerie painted a clearer portrait of the current standard of care and competitive glaucoma treatment environment. Management also provided further insight into the recent Mercury 1 data for Roclatan, a closer look at how to measure the effectiveness of glaucoma treatment with added perspective from a former physician, as well as revisited what the company’s future value adding drivers will be and articulated the international strategy. We took the opportunity to dive deeper into our model, taking into account potential future European launches and Japanese clinical trials.”,” Brean Capital’s analyst commented.
AERI has been the subject of several other research reports. Raymond James Financial Inc. initiated coverage on shares of Aerie Pharmaceuticals in a report on Tuesday, September 13th. They issued an outperform rating and a $48.00 target price for the company. Needham & Company LLC restated a buy rating and issued a $45.00 target price on shares of Aerie Pharmaceuticals in a report on Tuesday, August 23rd. RBC Capital Markets restated an outperform rating and issued a $55.00 target price (up previously from $51.00) on shares of Aerie Pharmaceuticals in a report on Friday, September 16th. Zacks Investment Research lowered shares of Aerie Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, October 4th. Finally, Cantor Fitzgerald raised their target price on shares of Aerie Pharmaceuticals from $44.00 to $50.00 and gave the stock a buy rating in a report on Thursday, September 15th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $51.40.
Shares of Aerie Pharmaceuticals (NASDAQ:AERI) opened at 40.91 on Thursday. Aerie Pharmaceuticals has a 1-year low of $10.82 and a 1-year high of $41.72. The company’s market cap is $1.14 billion. The company’s 50-day moving average is $29.19 and its 200 day moving average is $19.81.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, August 3rd. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.02. Equities analysts anticipate that Aerie Pharmaceuticals will post ($2.81) EPS for the current year.
In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $40.34, for a total transaction of $2,017,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.77% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AERI. Jennison Associates LLC increased its position in Aerie Pharmaceuticals by 0.6% in the second quarter. Jennison Associates LLC now owns 3,711,695 shares of the company’s stock worth $65,326,000 after buying an additional 21,505 shares during the period. Deerfield Management Co. increased its position in Aerie Pharmaceuticals by 225.9% in the first quarter. Deerfield Management Co. now owns 2,632,482 shares of the company’s stock worth $32,011,000 after buying an additional 1,824,607 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Aerie Pharmaceuticals by 3.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock worth $36,960,000 after buying an additional 75,000 shares during the period. Vanguard Group Inc. increased its position in Aerie Pharmaceuticals by 11.1% in the second quarter. Vanguard Group Inc. now owns 1,006,552 shares of the company’s stock worth $17,716,000 after buying an additional 100,645 shares during the period. Finally, BlackRock Fund Advisors increased its position in Aerie Pharmaceuticals by 10.5% in the second quarter. BlackRock Fund Advisors now owns 971,896 shares of the company’s stock worth $17,105,000 after buying an additional 92,113 shares during the period. 95.22% of the stock is currently 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 primary product candidates are Rhopressa and Roclatan.
Receive News & Ratings for Aerie Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerie Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.