Shares of Aerie Pharmaceuticals Inc. (NASDAQ:AERI) shot up 11.7% on Tuesday . The company traded as high as $38.74 and last traded at $38.10, with a volume of 3,003,088 shares changing hands. The stock had previously closed at $34.12.

A number of brokerages have recently weighed in on AERI. Brean Capital set a $48.00 target price on Aerie Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, September 15th. Stifel Nicolaus raised their price target on Aerie Pharmaceuticals from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of Aerie Pharmaceuticals in a report on Thursday, September 15th. Zacks Investment Research upgraded Aerie Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a report on Monday, July 4th. Finally, Royal Bank Of Canada raised their price target on Aerie Pharmaceuticals from $51.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, September 15th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Aerie Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $49.40.

The company’s market cap is $1.08 billion. The stock has a 50-day moving average price of $21.55 and a 200 day moving average price of $17.27.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, August 3rd. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.02. On average, equities analysts expect that Aerie Pharmaceuticals Inc. will post ($2.77) EPS for the current year.

In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. purchased 250,000 shares of the stock in a transaction dated Friday, July 22nd. The stock was bought at an average price of $17.50 per share, with a total value of $4,375,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.77% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its position in Aerie Pharmaceuticals by 3.4% in the second quarter. Barclays PLC now owns 6,015 shares of the company’s stock worth $106,000 after buying an additional 200 shares during the period. BlackRock Advisors LLC boosted its position in Aerie Pharmaceuticals by 15.0% in the second quarter. BlackRock Advisors LLC now owns 12,310 shares of the company’s stock worth $217,000 after buying an additional 1,608 shares during the period. GSA Capital Partners LLP acquired a new position in Aerie Pharmaceuticals during the second quarter worth approximately $219,000. American International Group Inc. boosted its position in Aerie Pharmaceuticals by 8.5% in the second quarter. American International Group Inc. now owns 13,864 shares of the company’s stock worth $244,000 after buying an additional 1,082 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in Aerie Pharmaceuticals by 17.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 15,900 shares of the company’s stock worth $286,000 after buying an additional 2,400 shares during the period. 99.66% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:AERI

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