Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) rose 5.2% during mid-day trading on Wednesday . The stock traded as high as $55.65 and last traded at $54.35. Approximately 1,304,854 shares changed hands during trading, an increase of 147% from the average daily volume of 527,592 shares. The stock had previously closed at $51.65.

AERI has been the subject of several recent research reports. Zacks Investment Research downgraded Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub downgraded Aerie Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $62.00 price target (up previously from $56.00) on shares of Aerie Pharmaceuticals in a report on Thursday, July 20th. Canaccord Genuity reiterated a “buy” rating and set a $65.00 price target on shares of Aerie Pharmaceuticals in a report on Monday, July 3rd. Finally, Mizuho reiterated a “buy” rating and set a $70.00 price target on shares of Aerie Pharmaceuticals in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Aerie Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $66.36.

The firm’s market capitalization is $1.98 billion. The stock’s 50-day moving average price is $54.47 and its 200 day moving average price is $50.28.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings results on Tuesday, August 1st. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. Analysts expect that Aerie Pharmaceuticals, Inc. will post ($2.59) earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Broadfin Capital LLC purchased a new stake in Aerie Pharmaceuticals during the second quarter valued at $16,291,000. Dynamic Technology Lab Private Ltd increased its position in Aerie Pharmaceuticals by 39.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 7,957 shares of the company’s stock valued at $418,000 after acquiring an additional 2,259 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Aerie Pharmaceuticals by 11.5% during the second 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 last quarter. Castleark Management LLC increased its position in Aerie Pharmaceuticals by 33.9% during the second quarter. Castleark Management LLC now owns 77,538 shares of the company’s stock valued at $4,075,000 after acquiring an additional 19,648 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Aerie Pharmaceuticals by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 23,501 shares of the company’s stock valued at $1,235,000 after acquiring an additional 1,235 shares during the last quarter. Institutional investors own 94.64% of the company’s stock.

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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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