FIX Initiates Coverage on Aerie Pharmaceuticals (AERI)
Stock analysts at FIX started coverage on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research note issued on Monday, The Fly reports. The brokerage set a “reduce” rating and a $64.00 price target on the stock. FIX’s price objective would indicate a potential upside of 43.34% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $86.00 price objective on shares of Aerie Pharmaceuticals in a report on Tuesday, October 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $86.00 price objective on shares of Aerie Pharmaceuticals in a report on Friday, August 10th. Cowen lifted their price objective on Aerie Pharmaceuticals from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. HC Wainwright set a $78.00 price objective on Aerie Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, BidaskClub downgraded Aerie Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $79.25.
NASDAQ AERI traded down $3.11 during trading hours on Monday, reaching $44.65. 653,006 shares of the stock traded hands, compared to its average volume of 409,539. Aerie Pharmaceuticals has a 1 year low of $44.56 and a 1 year high of $74.75. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -13.25 and a beta of 0.99.
In related news, insider Casey C. Kopczynski sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $60.09, for a total value of $660,990.00. Following the sale, the insider now directly owns 148,517 shares of the company’s stock, valued at $8,924,386.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas A. Mitro sold 190,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $60.27, for a total value of $11,451,300.00. Following the completion of the sale, the chief operating officer now directly owns 234,147 shares in the company, valued at $14,112,039.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 324,117 shares of company stock worth $19,459,226. Company insiders own 10.53% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in shares of Aerie Pharmaceuticals by 20.0% in the second quarter. Amalgamated Bank now owns 5,441 shares of the company’s stock worth $368,000 after purchasing an additional 906 shares during the last quarter. BlackRock Inc. grew its stake in shares of Aerie Pharmaceuticals by 9.0% in the second quarter. BlackRock Inc. now owns 2,991,101 shares of the company’s stock worth $202,049,000 after purchasing an additional 246,686 shares during the last quarter. UBS Group AG grew its stake in shares of Aerie Pharmaceuticals by 142.3% in the first quarter. UBS Group AG now owns 9,409 shares of the company’s stock worth $511,000 after purchasing an additional 5,526 shares during the last quarter. Swiss National Bank grew its stake in shares of Aerie Pharmaceuticals by 9.6% in the second quarter. Swiss National Bank now owns 59,100 shares of the company’s stock worth $3,992,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Columbus Circle Investors grew its stake in shares of Aerie Pharmaceuticals by 3.1% in the third quarter. Columbus Circle Investors now owns 798,376 shares of the company’s stock worth $49,140,000 after purchasing an additional 24,196 shares during the last quarter. 96.43% of the stock is currently owned by institutional investors.
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.
Further Reading: Bear Market
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