Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Aerie received a significant boost with the recent approval of lead drug Rhopressa. However, Rhopressa faces stiff competition from established branded and generic pharmaceutical companies, such as Novartis’ Simbrinza and Travtan, and Allergan’s Lumigan, as well as other smaller biotechnology and pharmaceutical companies. Valeant Pharmaceutical’s Vyzulta was recently approved for open-angle glaucoma or ocular hypertension. Rhopressa will face a tough time in gaining market share due to competition from these products. Earlier, Aerie had to withdraw its NDA in the United States submitted in 2016 as a third-party manufacturing facility in Tampa, FL, not being ready for pre-approval inspection. Any such delays for other candidate Roclatan will be a setback. Aerie’s shares have underperformed the industry in the last six months. “

AERI has been the subject of a number of other research reports. Mizuho reaffirmed a “buy” rating and issued a $70.00 target price on shares of Aerie Pharmaceuticals in a research report on Wednesday, October 25th. Guggenheim assumed coverage on shares of Aerie Pharmaceuticals in a research report on Monday, October 23rd. They issued a “buy” rating and a $80.00 target price for the company. Canaccord Genuity reaffirmed a “positive” rating and issued a $73.00 target price (up previously from $65.00) on shares of Aerie Pharmaceuticals in a research report on Monday, October 16th. JMP Securities set a $68.00 target price on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Seaport Global Securities initiated coverage on shares of Aerie Pharmaceuticals in a research report on Friday, January 26th. They issued a “buy” rating and a $78.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $73.27.

Aerie Pharmaceuticals (NASDAQ:AERI) opened at $57.05 on Friday. The firm has a market cap of $2,150.44, a price-to-earnings ratio of -17.08 and a beta of 0.87. Aerie Pharmaceuticals has a 12-month low of $38.14 and a 12-month high of $66.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 15.24 and a quick ratio of 15.24.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, November 8th. The company reported ($0.89) earnings per share for the quarter. equities analysts forecast that Aerie Pharmaceuticals will post -3.97 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in AERI. Ameritas Investment Partners Inc. grew its position in shares of Aerie Pharmaceuticals by 11.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,665 shares of the company’s stock valued at $140,000 after acquiring an additional 275 shares during the period. Quantbot Technologies LP lifted its stake in shares of Aerie Pharmaceuticals by 792.5% during the 3rd quarter. Quantbot Technologies LP now owns 2,981 shares of the company’s stock worth $144,000 after buying an additional 2,647 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Aerie Pharmaceuticals during the 4th quarter worth about $176,000. Amalgamated Bank acquired a new stake in shares of Aerie Pharmaceuticals during the 2nd quarter worth about $204,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Aerie Pharmaceuticals by 65.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,160 shares of the company’s stock worth $204,000 after buying an additional 1,639 shares during the last quarter.

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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 product candidates include Rhopressa (netarsudil ophthalmic solution) 0.02% (Rhopressa), and Roclatan (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005% (Roclatan).

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