Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) Given a $65.00 Price Target at Canaccord Genuity

Canaccord Genuity set a $65.00 price target on Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) in a research report released on Tuesday. The brokerage currently has a buy rating on the stock.

Several other brokerages have also commented on AERI. HC Wainwright reiterated a buy rating and set a $69.00 price target on shares of Aerie Pharmaceuticals in a research note on Wednesday, May 3rd. Stifel Nicolaus lifted their price target on shares of Aerie Pharmaceuticals from $55.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, July 4th. ValuEngine upgraded shares of Aerie Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Aerie Pharmaceuticals from a strong sell rating to a sell rating in a research note on Monday, July 24th. Finally, Cowen and Company reiterated an outperform rating and set a $70.00 price target on shares of Aerie Pharmaceuticals in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $66.08.

Aerie Pharmaceuticals (AERI) opened at 50.35 on Tuesday. The company has a 50-day moving average of $54.55 and a 200-day moving average of $48.00. Aerie Pharmaceuticals has a 52 week low of $18.35 and a 52 week high of $59.50. The company’s market cap is $1.83 billion.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its quarterly earnings results on Tuesday, August 1st. The company reported ($0.82) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.02. On average, equities research analysts predict that Aerie Pharmaceuticals will post ($2.56) EPS for the current year.

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In other Aerie Pharmaceuticals news, major shareholder Foresite Capital Fund Ii, L.P. sold 20,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $55.95, for a total transaction of $1,119,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 9.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at about $107,000. Ameritas Investment Partners Inc. acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at about $108,000. BNP Paribas Arbitrage SA increased its position in shares of Aerie Pharmaceuticals by 2,711.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,711 shares of the company’s stock valued at $195,000 after buying an additional 3,579 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Aerie Pharmaceuticals during the first quarter valued at about $202,000. Finally, Amalgamated Bank acquired a new position in shares of Aerie Pharmaceuticals during the second quarter valued at about $204,000. 92.98% of the stock is currently owned by institutional investors.

Aerie Pharmaceuticals Company Profile

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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