Zacks Investment Research cut shares of Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) from a hold rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “With no approved product in its portfolio, Aerie depends heavily on a potential approval of Rhopressa. 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. The delay in the NDA filing was quite disappointing as Rhopressa is Aerie’s lead late-stage candidate. Any such delays will adversely impact prospects. Aerie resubmitted its NDA for lead candidate Rhopressa in Feb 2017. The FDA determined that the application is sufficiently complete to permit a substantive review and set the PDUFA goal date for the completion of review as Feb 28, 2018. The Dermatologic and Ophthalmic Drugs Advisory Committee of the FDA voted in favor of Rhopressa’s approval. A potential approval of Rhopressa will boost the company’s growth prospects. Aerie’s shares have outperformed the industry in the last six months.”

Other analysts have also recently issued reports about the stock. Mizuho reissued a buy rating on shares of Aerie Pharmaceuticals in a research note on Friday, November 3rd. Guggenheim started coverage on shares of Aerie Pharmaceuticals in a research note on Monday, October 23rd. They issued a buy rating and a $80.00 price objective for the company. Needham & Company LLC reissued a buy rating and issued a $76.00 price objective (up from $65.00) on shares of Aerie Pharmaceuticals in a research note on Monday, October 16th. Canaccord Genuity reissued a positive rating and issued a $73.00 price objective (up from $65.00) on shares of Aerie Pharmaceuticals in a research note on Monday, October 16th. Finally, Cantor Fitzgerald set a $69.00 price objective on shares of Aerie Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $71.43.

Aerie Pharmaceuticals (NASDAQ AERI) traded up $0.15 on Wednesday, reaching $61.55. 188,700 shares of the company’s stock traded hands, compared to its average volume of 520,614. The company has a debt-to-equity ratio of 0.78, a quick ratio of 15.24 and a current ratio of 15.24. Aerie Pharmaceuticals has a fifty-two week low of $35.20 and a fifty-two week high of $66.25.

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Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings 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 worth $140,000 after acquiring an additional 275 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Aerie Pharmaceuticals by 792.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,981 shares of the company’s stock worth $144,000 after acquiring an additional 2,647 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Aerie Pharmaceuticals by 2,711.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,711 shares of the company’s stock worth $195,000 after acquiring an additional 3,579 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Aerie Pharmaceuticals in the 2nd quarter worth about $204,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Aerie Pharmaceuticals by 65.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,160 shares of the company’s stock worth $204,000 after acquiring an additional 1,639 shares during the last quarter.

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

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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