Aerie Pharmaceuticals Inc (AERI) Receives Consensus Recommendation of “Buy” from Analysts
Aerie Pharmaceuticals Inc (NASDAQ:AERI) has been given a consensus recommendation of “Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $79.36.
Several research analysts recently commented on the company. BidaskClub cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. ValuEngine raised Aerie Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. HC Wainwright set a $78.00 price target on Aerie Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $86.00 price target on shares of Aerie Pharmaceuticals in a report on Friday, August 10th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $86.00 price target on shares of Aerie Pharmaceuticals in a report on Tuesday, October 2nd.
Shares of NASDAQ:AERI traded down $0.70 on Friday, reaching $39.73. 10,354 shares of the company’s stock were exchanged, compared to its average volume of 552,282. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -11.70 and a beta of 0.92. Aerie Pharmaceuticals has a fifty-two week low of $38.50 and a fifty-two week high of $74.75.
In related news, CFO Richard J. Rubino sold 66,605 shares of Aerie Pharmaceuticals stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $60.23, for a total value of $4,011,619.15. Following the completion of the sale, the chief financial officer now directly owns 334,236 shares in the company, valued at $20,131,034.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Casey C. Kopczynski sold 11,000 shares of Aerie Pharmaceuticals stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $39.81, for a total value of $437,910.00. Following the completion of the sale, the insider now owns 118,042 shares of the company’s stock, valued at $4,699,252.02. The disclosure for this sale can be found here. Insiders sold 134,117 shares of company stock valued at $7,784,846 over the last ninety days. 10.53% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in AERI. Girard Partners LTD. acquired a new stake in Aerie Pharmaceuticals in the third quarter worth about $105,000. Fox Run Management L.L.C. acquired a new position in shares of Aerie Pharmaceuticals during the 3rd quarter worth about $201,000. Public Employees Retirement Association of Colorado grew its position in shares of Aerie Pharmaceuticals by 48.6% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,370 shares of the company’s stock worth $269,000 after buying an additional 1,430 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Aerie Pharmaceuticals during the 2nd quarter worth about $276,000. Finally, GW Henssler & Associates Ltd. acquired a new position in shares of Aerie Pharmaceuticals during the 3rd quarter worth about $334,000.
About Aerie Pharmaceuticals
Aerie Pharmaceuticals, Inc, an ophthalmic pharmaceutical company, focuses on the discovery, development, and commercialization of first-in-class therapies for the treatment of glaucoma 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.
Further Reading: Hedge Funds
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