Mizuho Reaffirms “Buy” Rating for Aerie Pharmaceuticals (NASDAQ:AERI)

Mizuho reissued their buy rating on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research note published on Thursday morning, The Fly reports. Mizuho currently has a $54.00 price target on the stock, down from their prior price target of $63.00.

Several other equities analysts have also issued reports on AERI. Piper Jaffray Companies reiterated a buy rating on shares of Aerie Pharmaceuticals in a research report on Tuesday, October 15th. Cantor Fitzgerald reiterated an overweight rating and issued a $62.00 price objective (down from $85.00) on shares of Aerie Pharmaceuticals in a research report on Thursday, August 8th. Needham & Company LLC reiterated a buy rating and issued a $54.00 price objective on shares of Aerie Pharmaceuticals in a research report on Friday, October 25th. ValuEngine cut Aerie Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, November 4th. Finally, JMP Securities cut their target price on Aerie Pharmaceuticals from $58.00 to $52.00 and set a market outperform rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Aerie Pharmaceuticals has a consensus rating of Buy and a consensus target price of $44.92.

Shares of NASDAQ AERI traded up $0.75 during midday trading on Thursday, reaching $19.23. 2,084,600 shares of the company traded hands, 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. The stock’s 50-day simple moving average is $21.03 and its 200-day simple moving average is $27.38. Aerie Pharmaceuticals has a 12 month low of $17.51 and a 12 month 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.

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

In related news, CEO Vicente Anido, Jr. acquired 26,250 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were bought at an average price of $19.01 per share, for a total transaction of $499,012.50. Following the purchase, the chief executive officer now directly owns 195,631 shares in the company, valued at approximately $3,718,945.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Foresite Capital Management Ii acquired 15,700 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of $18.42 per share, for a total transaction of $289,194.00. The disclosure for this purchase can be found here. Insiders acquired a total of 562,698 shares of company stock worth $13,088,866 in the last 90 days. Company insiders own 8.71% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Aerie Pharmaceuticals by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,188,446 shares of the company’s stock worth $123,769,000 after acquiring an additional 79,985 shares during the last quarter. BlackRock Inc. increased its holdings 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 acquiring an additional 331,884 shares during the last quarter. Waddell & Reed Financial Inc. increased its holdings 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 acquiring an additional 224,655 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Aerie Pharmaceuticals by 14.8% during the 2nd quarter. Pictet Asset Management Ltd. now owns 930,723 shares of the company’s stock worth $27,503,000 after acquiring an additional 120,313 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Aerie Pharmaceuticals by 34.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 723,625 shares of the company’s stock worth $13,908,000 after acquiring an additional 185,376 shares during the last quarter.

About Aerie Pharmaceuticals

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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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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