Aerie Pharmaceuticals, Inc. (NASDAQ:AERI)‘s stock had its “buy” rating reaffirmed by investment analysts at Mizuho in a report released on Thursday. They presently have a $87.00 target price on the stock. Mizuho’s target price indicates a potential upside of 40.32% from the stock’s current price.
The analysts wrote, “We do not view quarterly earnings as an important performance measure of companies like Aerie as valuation is primarily driven by progress of the R&D pipeline.””
Other equities analysts have also issued research reports about the stock. Canaccord Genuity reissued a “buy” rating on shares of Aerie Pharmaceuticals in a research report on Friday, September 22nd. Zacks Investment Research lowered shares of Aerie Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $62.00 target price on shares of Aerie Pharmaceuticals in a research report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $70.00 target price on shares of Aerie Pharmaceuticals in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $70.93.
Aerie Pharmaceuticals (NASDAQ AERI) traded up $0.25 during midday trading on Thursday, reaching $62.00. 324,800 shares of the company’s stock were exchanged, compared to its average volume of 526,963. The company has a quick ratio of 22.45, a current ratio of 22.44 and a debt-to-equity ratio of 0.67. Aerie Pharmaceuticals has a 1 year low of $35.20 and a 1 year high of $66.25.
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Institutional investors have recently made changes to their positions in the business. AXA bought a new stake in Aerie Pharmaceuticals in the 2nd quarter valued at $10,961,000. Goldman Sachs Group Inc. boosted its stake in shares of Aerie Pharmaceuticals by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 223,053 shares of the company’s stock valued at $10,115,000 after purchasing an additional 49,473 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Aerie Pharmaceuticals by 113,376.8% in the 1st quarter. BlackRock Inc. now owns 2,600,888 shares of the company’s stock valued at $117,951,000 after purchasing an additional 2,598,596 shares in the last quarter. Boulegeris Investments Inc. boosted its stake in shares of Aerie Pharmaceuticals by 5.2% in the 2nd quarter. Boulegeris Investments Inc. now owns 79,525 shares of the company’s stock valued at $4,179,000 after purchasing an additional 3,900 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Aerie Pharmaceuticals by 8.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 124,238 shares of the company’s stock valued at $6,529,000 after purchasing an additional 9,781 shares in the last quarter. 94.67% of the stock is currently owned by hedge funds and other institutional investors.
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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