Aerie Pharmaceuticals (AERI) Downgraded by Zacks Investment Research

Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Aerie reported mixed results for the fourth quarter. Though earnings missed estimates, Rhopressa sales comfortably beat estimates and doubled sequentially. The solid uptake in prescription volumes should propel Rhopressa sales further, as glaucoma is one of the largest segments in the global ophthalmic market. The FDA approval of its second candidate, Rocklatan, a once-daily, quadruple-action fixed-dose combination of Rhopressa and Xalatan has further boosted the company’s portfolio. Shares have underperformed the industry in the past six months. While the glaucoma market holds potential, Aerie faces stiff competition from existing players and new ones like Vyzulta   among others.”

A number of other brokerages also recently commented on AERI. Canaccord Genuity reduced their target price on shares of Aerie Pharmaceuticals from $86.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. ValuEngine upgraded shares of Aerie Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 1st. BidaskClub upgraded shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Oppenheimer set a $64.00 target price on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, February 26th. Finally, Cantor Fitzgerald set a $85.00 target price on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Aerie Pharmaceuticals has a consensus rating of “Buy” and an average price target of $77.36.

NASDAQ:AERI opened at $46.98 on Friday. Aerie Pharmaceuticals has a 1-year low of $32.18 and a 1-year high of $74.75. The stock has a market capitalization of $2.16 billion, a P/E ratio of -10.10 and a beta of 0.97.

In related news, insider Casey C. Kopczynski sold 11,000 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $35.21, for a total value of $387,310.00. Following the transaction, the insider now owns 106,743 shares in the company, valued at approximately $3,758,421.03. The sale was disclosed in a filing with the SEC, which is available through this link. 10.53% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in Aerie Pharmaceuticals by 40.2% in the 4th quarter. Bank of Montreal Can now owns 1,060 shares of the company’s stock worth $38,000 after purchasing an additional 304 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Aerie Pharmaceuticals by 23.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock worth $99,000 after purchasing an additional 515 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Aerie Pharmaceuticals by 3.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 19,031 shares of the company’s stock worth $687,000 after purchasing an additional 660 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Aerie Pharmaceuticals by 3.2% in the 4th quarter. Chartwell Investment Partners LLC now owns 23,735 shares of the company’s stock worth $857,000 after purchasing an additional 734 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Aerie Pharmaceuticals by 1.1% in the 3rd quarter. Teachers Advisors LLC now owns 70,937 shares of the company’s stock worth $4,366,000 after purchasing an additional 772 shares in the last quarter.

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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