Aerie Pharmaceuticals (NASDAQ:AERI) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday, BidAskClub reports.
Several other brokerages have also recently weighed in on AERI. Piper Sandler lowered their target price on Aerie Pharmaceuticals from $35.00 to $25.00 in a report on Friday, August 7th. Citigroup decreased their price objective on Aerie Pharmaceuticals from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Mizuho upped their price objective on Aerie Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Raymond James restated a “hold” rating on shares of Aerie Pharmaceuticals in a research note on Monday, August 24th. Finally, Oppenheimer assumed coverage on Aerie Pharmaceuticals in a research note on Friday, May 29th. They set a “buy” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $29.54.
Shares of AERI stock opened at $11.67 on Friday. Aerie Pharmaceuticals has a twelve month low of $10.22 and a twelve month high of $26.26. The stock has a market capitalization of $516.31 million, a price-to-earnings ratio of -2.64 and a beta of 0.82. The stock has a fifty day simple moving average of $12.12 and a two-hundred day simple moving average of $14.30. The company has a current ratio of 3.73, a quick ratio of 3.51 and a debt-to-equity ratio of 2.33.
This chart shows the revenue of four tech stocks. One is IBM, one is Facebook, one is Google and that big red one to the right? That’s a virtually unknown stock that trades for just $3.
Aerie Pharmaceuticals (NASDAQ:AERI) last issued its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.04). Aerie Pharmaceuticals had a negative return on equity of 107.42% and a negative net margin of 247.36%. The firm had revenue of $18.03 million during the quarter, compared to analysts’ expectations of $18.65 million. Research analysts predict that Aerie Pharmaceuticals will post -3.72 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Aerie Pharmaceuticals by 7.9% during the 1st quarter. Wellington Management Group LLP now owns 6,736,222 shares of the company’s stock valued at $90,939,000 after buying an additional 495,181 shares in the last quarter. Bank of America Corp DE increased its position in Aerie Pharmaceuticals by 50.5% during the 2nd quarter. Bank of America Corp DE now owns 2,224,290 shares of the company’s stock valued at $32,830,000 after buying an additional 746,310 shares in the last quarter. Levin Capital Strategies L.P. increased its position in Aerie Pharmaceuticals by 16.4% during the 2nd quarter. Levin Capital Strategies L.P. now owns 1,747,101 shares of the company’s stock valued at $25,787,000 after buying an additional 246,344 shares in the last quarter. Fred Alger Management LLC increased its position in Aerie Pharmaceuticals by 30.5% during the 1st quarter. Fred Alger Management LLC now owns 1,396,982 shares of the company’s stock valued at $18,859,000 after buying an additional 326,190 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Aerie Pharmaceuticals in the second quarter valued at about $20,281,000.
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, retinal diseases, 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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