Aerie Pharmaceuticals (NASDAQ:AERI) has been assigned a $105.00 price objective by research analysts at Cowen in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the stock. Cowen’s target price indicates a potential upside of 92.48% from the company’s previous close.
A number of other analysts have also recently commented on the stock. Mizuho restated a “buy” rating and set a $77.00 price target on shares of Aerie Pharmaceuticals in a research note on Wednesday. BidaskClub upgraded shares of Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, October 15th. Zacks Investment Research upgraded shares of Aerie Pharmaceuticals from a “sell” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, October 10th. JMP Securities set a $80.00 price target on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, ValuEngine cut shares of Aerie Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 6th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $82.30.
Aerie Pharmaceuticals stock opened at $54.55 on Tuesday. Aerie Pharmaceuticals has a twelve month low of $47.06 and a twelve month high of $74.75. The company has a market cap of $2.43 billion, a PE ratio of -16.19 and a beta of 0.99. The company has a quick ratio of 10.07, a current ratio of 10.27 and a debt-to-equity ratio of 0.64.
In other Aerie Pharmaceuticals news, insider Casey C. Kopczynski sold 11,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $53.87, for a total value of $592,570.00. Following the sale, the insider now directly owns 139,768 shares in the company, valued at approximately $7,529,302.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas A. Mitro sold 190,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $60.27, for a total transaction of $11,451,300.00. Following the completion of the sale, the chief operating officer now owns 234,147 shares in the company, valued at $14,112,039.69. The disclosure for this sale can be found here. Insiders sold a total of 324,117 shares of company stock worth $19,459,226 over the last quarter. Corporate insiders own 10.53% of the company’s stock.
Several large investors have recently modified their holdings of AERI. UBS Group AG increased its holdings in shares of Aerie Pharmaceuticals by 142.3% in the 1st quarter. UBS Group AG now owns 9,409 shares of the company’s stock worth $511,000 after buying an additional 5,526 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Aerie Pharmaceuticals by 8.3% in the 1st quarter. Royal Bank of Canada now owns 32,875 shares of the company’s stock worth $1,784,000 after buying an additional 2,511 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Aerie Pharmaceuticals in the 1st quarter worth $258,000. Handelsbanken Fonder AB increased its holdings in shares of Aerie Pharmaceuticals by 17.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 305,000 shares of the company’s stock worth $20,603,000 after buying an additional 45,000 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Aerie Pharmaceuticals by 20.0% in the 2nd quarter. Amalgamated Bank now owns 5,441 shares of the company’s stock worth $368,000 after buying an additional 906 shares during the last quarter. 96.43% of the stock is currently owned by hedge funds and other institutional investors.
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.
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