Kornitzer Capital Management Inc. KS lifted its stake in Aerie Pharmaceuticals Inc (NASDAQ:AERI) by 86.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 283,535 shares of the company’s stock after purchasing an additional 131,680 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.62% of Aerie Pharmaceuticals worth $5,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Aerie Pharmaceuticals by 2,330.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock valued at $43,000 after acquiring an additional 1,398 shares in the last quarter. Endurance Wealth Management Inc. lifted its holdings in shares of Aerie Pharmaceuticals by 173.7% during the third quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock valued at $50,000 after acquiring an additional 1,650 shares during the period. NumerixS Investment Technologies Inc bought a new position in shares of Aerie Pharmaceuticals during the second quarter valued at $115,000. Bank of Montreal Can raised its holdings in shares of Aerie Pharmaceuticals by 497.8% in the second quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock valued at $119,000 after buying an additional 3,350 shares during the last quarter. Finally, First Mercantile Trust Co. bought a new position in shares of Aerie Pharmaceuticals in the second quarter valued at about $134,000.
AERI traded up $0.75 during trading hours on Friday, reaching $19.23. The company’s stock had a trading volume of 2,084,600 shares, compared to its average volume of 892,659. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.52. Aerie Pharmaceuticals Inc has a 52 week low of $17.51 and a 52 week high of $50.10. The firm has a market cap of $1.09 billion, a PE ratio of -4.14 and a beta of 0.51. The company’s 50-day moving average is $21.03 and its 200-day moving average is $27.38.
Several analysts have weighed in on AERI shares. Stifel Nicolaus dropped their price objective on Aerie Pharmaceuticals from $77.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Citigroup reiterated an “outperform” rating and issued a $45.00 price objective (down from $65.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Cantor Fitzgerald decreased their price objective on Aerie Pharmaceuticals from $62.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer dropped their price objective on Aerie Pharmaceuticals from $45.00 to $25.00 in a research note on Thursday. Finally, ValuEngine cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.92.
In other news, CFO Richard J. Rubino bought 5,040 shares of the company’s stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $100,447.20. Following the completion of the transaction, the chief financial officer now owns 339,446 shares of the company’s stock, valued at $6,765,158.78. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Foresite Capital Management Ii bought 1,153 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $23.25 per share, with a total value of $26,807.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 562,698 shares of company stock valued at $13,088,866. 8.71% of the stock is owned by corporate 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, retinal diseases, 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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