Highland Capital Management LP Buys New Position in Aerie Pharmaceuticals Inc (AERI)

Highland Capital Management LP bought a new position in Aerie Pharmaceuticals Inc (NASDAQ:AERI) during the first quarter, Holdings Channel reports. The firm bought 163,300 shares of the company’s stock, valued at approximately $8,859,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bamco Inc. NY boosted its stake in shares of Aerie Pharmaceuticals by 19.4% in the 4th quarter. Bamco Inc. NY now owns 7,351 shares of the company’s stock worth $439,000 after buying an additional 1,195 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Aerie Pharmaceuticals by 2.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 62,720 shares of the company’s stock worth $3,748,000 after buying an additional 1,273 shares during the last quarter. Swiss National Bank boosted its stake in shares of Aerie Pharmaceuticals by 2.5% in the 1st quarter. Swiss National Bank now owns 53,900 shares of the company’s stock worth $2,924,000 after buying an additional 1,300 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Aerie Pharmaceuticals by 1.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 108,311 shares of the company’s stock worth $5,876,000 after buying an additional 1,411 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Aerie Pharmaceuticals by 5.1% in the 1st quarter. New York State Common Retirement Fund now owns 37,000 shares of the company’s stock worth $2,007,000 after buying an additional 1,800 shares during the last quarter.

NASDAQ:AERI opened at $63.00 on Thursday. The company has a current ratio of 13.57, a quick ratio of 13.53 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.51 billion, a P/E ratio of -18.69 and a beta of 0.94. Aerie Pharmaceuticals Inc has a 12 month low of $47.05 and a 12 month high of $66.60.

Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings results on Tuesday, May 8th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.04. sell-side analysts expect that Aerie Pharmaceuticals Inc will post -3.75 EPS for the current year.

A number of equities analysts have recently weighed in on AERI shares. Canaccord Genuity set a $86.00 target price on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, May 15th. Seaport Global Securities restated a “buy” rating on shares of Aerie Pharmaceuticals in a research note on Monday, March 5th. Zacks Investment Research upgraded Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. BidaskClub upgraded Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, HC Wainwright started coverage on Aerie Pharmaceuticals in a research note on Friday, February 16th. They issued a “buy” rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Aerie Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $76.50.

In related news, CEO Vicente Anido, Jr. sold 150,000 shares of Aerie Pharmaceuticals stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $62.28, for a total value of $9,342,000.00. Following the sale, the chief executive officer now owns 176,320 shares of the company’s stock, valued at approximately $10,981,209.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vicente Anido, Jr. sold 50,000 shares of Aerie Pharmaceuticals stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $62.01, for a total transaction of $3,100,500.00. Following the completion of the sale, the chief executive officer now directly owns 176,320 shares in the company, valued at approximately $10,933,603.20. The disclosure for this sale can be found here. Insiders sold a total of 263,708 shares of company stock worth $16,249,556 in the last ninety days. 10.53% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Aerie Pharmaceuticals (NASDAQ:AERI)

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