Cantor Fitzgerald Lowers Aerie Pharmaceuticals (NASDAQ:AERI) Price Target to $30.00

Aerie Pharmaceuticals (NASDAQ:AERI) had its price target trimmed by Cantor Fitzgerald from $62.00 to $30.00 in a report issued on Thursday, The Fly reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Piper Jaffray Companies reissued a buy rating on shares of Aerie Pharmaceuticals in a report on Tuesday, October 15th. Needham & Company LLC reaffirmed a buy rating and set a $54.00 target price on shares of Aerie Pharmaceuticals in a report on Friday, October 25th. HC Wainwright reaffirmed a buy rating on shares of Aerie Pharmaceuticals in a report on Thursday, October 24th. Citigroup reaffirmed an outperform rating and set a $45.00 target price (down previously from $65.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Finally, ValuEngine downgraded Aerie Pharmaceuticals from a buy rating to a hold rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Aerie Pharmaceuticals has an average rating of Buy and a consensus target price of $44.92.

NASDAQ:AERI traded up $0.75 on Thursday, hitting $19.23. 2,084,600 shares of the stock were exchanged, compared to its average volume of 892,659. The stock has a market cap of $1.09 billion, a PE ratio of -4.14 and a beta of 0.51. Aerie Pharmaceuticals has a fifty-two week low of $17.51 and a fifty-two week high of $50.10. The company has a current ratio of 2.52, a quick ratio of 2.35 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $21.03 and a 200-day moving average of $27.38.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). The business had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.59 million. Aerie Pharmaceuticals had a negative net margin of 478.81% and a negative return on equity of 89.52%. As a group, analysts predict that Aerie Pharmaceuticals will post -3.61 earnings per share for the current year.

In related news, major shareholder Foresite Capital Management Ii purchased 189,555 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $24.43 per share, for a total transaction of $4,630,828.65. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Foresite Capital Fund Ii, L.P. purchased 46,153 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $23.45 per share, for a total transaction of $1,082,287.85. The disclosure for this purchase can be found here. Insiders have bought a total of 562,698 shares of company stock worth $13,088,866 over the last quarter. Insiders own 8.71% of the company’s stock.

Several institutional investors have recently made changes to their positions in AERI. BlackRock Inc. raised its position in shares of Aerie Pharmaceuticals by 11.0% during the 2nd quarter. BlackRock Inc. now owns 3,358,901 shares of the company’s stock worth $99,255,000 after purchasing an additional 331,884 shares during the period. C WorldWide Group Holding A S raised its position in shares of Aerie Pharmaceuticals by 235.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 456,142 shares of the company’s stock worth $13,479,000 after purchasing an additional 320,000 shares during the period. Waddell & Reed Financial Inc. raised its position in shares of Aerie Pharmaceuticals by 14.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,737,627 shares of the company’s stock worth $51,347,000 after purchasing an additional 224,655 shares during the period. Bamco Inc. NY raised its position in shares of Aerie Pharmaceuticals by 400.7% during the 2nd quarter. Bamco Inc. NY now owns 275,226 shares of the company’s stock worth $8,133,000 after purchasing an additional 220,263 shares during the period. Finally, Rhenman & Partners Asset Management AB raised its position in shares of Aerie Pharmaceuticals by 82.7% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 475,000 shares of the company’s stock worth $9,130,000 after purchasing an additional 215,000 shares during the period.

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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