Aerie Pharmaceuticals (AERI) Downgraded by BidaskClub to Hold
Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, August 23rd.
AERI has been the subject of several other reports. HC Wainwright set a $78.00 target price on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of Aerie Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. Canaccord Genuity set a $86.00 target price on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, May 8th. Needham & Company LLC set a $86.00 price objective on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Cowen boosted their price objective on shares of Aerie Pharmaceuticals from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $83.10.
NASDAQ:AERI traded down $0.30 during mid-day trading on Thursday, hitting $59.15. 201,743 shares of the stock traded hands, compared to its average volume of 406,405. The stock has a market cap of $2.64 billion, a P/E ratio of -17.55 and a beta of 0.77. Aerie Pharmaceuticals has a 12-month low of $47.05 and a 12-month high of $74.75. The company has a current ratio of 10.27, a quick ratio of 10.07 and a debt-to-equity ratio of 0.64.
In other Aerie Pharmaceuticals news, insider Casey C. Kopczynski sold 11,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $60.09, for a total transaction of $660,990.00. Following the transaction, the insider now directly owns 148,517 shares of the company’s stock, valued at approximately $8,924,386.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard J. Rubino sold 34,512 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $60.17, for a total transaction of $2,076,587.04. Following the completion of the sale, the chief financial officer now directly owns 383,738 shares in the company, valued at $23,089,515.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 257,512 shares of company stock worth $15,670,247. Insiders own 10.53% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY grew its position in shares of Aerie Pharmaceuticals by 8.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,576 shares of the company’s stock worth $782,000 after buying an additional 877 shares during the period. Amalgamated Bank grew its position 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 period. Xact Kapitalforvaltning AB grew its position in shares of Aerie Pharmaceuticals by 21.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 5,751 shares of the company’s stock worth $388,000 after buying an additional 1,000 shares during the period. MetLife Investment Advisors LLC grew its position in shares of Aerie Pharmaceuticals by 7.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 16,392 shares of the company’s stock worth $1,107,000 after buying an additional 1,066 shares during the period. Finally, Summit Trail Advisors LLC grew its position in shares of Aerie Pharmaceuticals by 12.1% in the 1st quarter. Summit Trail Advisors LLC now owns 11,922 shares of the company’s stock worth $440,000 after buying an additional 1,283 shares during the period. 96.00% of the stock is currently owned by hedge funds and other institutional investors.
Aerie Pharmaceuticals Company Profile
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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