Aerie Pharmaceuticals Inc. (AERI) PT Raised to $50.00 at Cantor Fitzgerald
Aerie Pharmaceuticals Inc. (NASDAQ:AERI) had its target price increased by research analysts at Cantor Fitzgerald from $44.00 to $50.00 in a report issued on Thursday. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 43.39% from the stock’s previous close.
The analysts wrote, “Even Better: When comparing the Phase 3 results with an earlier, smaller trial, the combination drug worked even better than its ingredients. Intraocular pressure (IOP) was reduced, on average to 15-16mmHg at all nine time points measured over a 90-day period. The lowering was 1-3mmHg higher than observed with the components, latanoprost and Rhopressa. The difference, as disclosed in a slide deck presented, but not in the press release, was statistically significant with a p value of =35% reduction in IOP.””
Several other equities research analysts have also weighed in on AERI. Zacks Investment Research upgraded shares of Aerie Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Monday, July 4th. Royal Bank Of Canada increased their price objective on shares of Aerie Pharmaceuticals from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Aerie Pharmaceuticals in a research report on Tuesday, August 23rd. Brean Capital reissued a “buy” rating and set a $48.00 price objective on shares of Aerie Pharmaceuticals in a research report on Wednesday, September 7th. Finally, Raymond James Financial Inc. started coverage on shares of Aerie Pharmaceuticals in a research report on Tuesday, September 13th. They set an “outperform” rating and a $48.00 price objective for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.56.
Aerie Pharmaceuticals (NASDAQ:AERI) opened at 34.87 on Thursday. Aerie Pharmaceuticals has a 52-week low of $10.82 and a 52-week high of $35.25. The firm’s market cap is $972.59 million. The firm’s 50-day moving average is $18.88 and its 200-day moving average is $16.55.
Aerie Pharmaceuticals (NASDAQ:AERI) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.72) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.02. Analysts forecast that Aerie Pharmaceuticals will post ($2.77) EPS for the current fiscal year.
In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. bought 250,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was acquired at an average price of $17.50 per share, with a total value of $4,375,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.77% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC increased its position in Aerie Pharmaceuticals by 472.3% in the second quarter. Essex Investment Management Co. LLC now owns 107,700 shares of the company’s stock worth $1,896,000 after buying an additional 88,880 shares during the period. Alps Advisors Inc. increased its position in Aerie Pharmaceuticals by 25.7% in the second quarter. Alps Advisors Inc. now owns 37,268 shares of the company’s stock worth $656,000 after buying an additional 7,618 shares during the period. Iguana Healthcare Management LLC acquired a new position in Aerie Pharmaceuticals during the first quarter worth $884,000. Royal Bank of Canada increased its position in Aerie Pharmaceuticals by 8.4% in the first quarter. Royal Bank of Canada now owns 102,553 shares of the company’s stock worth $1,247,000 after buying an additional 7,982 shares during the period. Finally, 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. 99.66% of the stock is owned by institutional investors and hedge funds.
Aerie Pharmaceuticals Company Profile
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.
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