Aerie Pharmaceuticals (NASDAQ:AERI) Rating Lowered to Sell at Zacks Investment Research

Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, February 2nd.

According to Zacks, “Aerie received a significant boost with the recent approval of lead drug Rhopressa. However, Rhopressa faces stiff competition from established branded and generic pharmaceutical companies, such as Novartis’ Simbrinza and Travtan, and Allergan’s Lumigan, as well as other smaller biotechnology and pharmaceutical companies. Valeant Pharmaceutical’s Vyzulta was recently approved for open-angle glaucoma or ocular hypertension. Rhopressa will face a tough time in gaining market share due to competition from these products. Earlier, Aerie had to withdraw its NDA in the United States submitted in 2016 as a third-party manufacturing facility in Tampa, FL, not being ready for pre-approval inspection. Any such delays for other candidate Roclatan will be a setback. Aerie’s shares have underperformed the industry in the last six months. “

Several other equities analysts have also recently commented on the stock. Guggenheim started coverage on shares of Aerie Pharmaceuticals in a research note on Monday, October 23rd. They set a “buy” rating and a $80.00 target price on the stock. Mizuho reissued a “buy” rating on shares of Aerie Pharmaceuticals in a research note on Friday, November 3rd. BidaskClub raised shares of Aerie Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Cantor Fitzgerald reissued a “buy” rating and set a $62.00 target price on shares of Aerie Pharmaceuticals in a research note on Wednesday, October 11th. Finally, Cowen reissued a “buy” rating on shares of Aerie Pharmaceuticals in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Aerie Pharmaceuticals currently has an average rating of “Buy” and an average price target of $73.27.

Aerie Pharmaceuticals (AERI) traded down $1.00 during mid-day trading on Friday, hitting $52.55. 548,869 shares of the company were exchanged, compared to its average volume of 417,092. The firm has a market cap of $1,980.82, a PE ratio of -15.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 15.24 and a current ratio of 15.24. Aerie Pharmaceuticals has a 1-year low of $38.14 and a 1-year high of $66.60.

Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, November 8th. The company reported ($0.89) EPS for the quarter. analysts expect that Aerie Pharmaceuticals will post -3.97 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its position in shares of Aerie Pharmaceuticals by 11.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,665 shares of the company’s stock valued at $140,000 after purchasing an additional 275 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Aerie Pharmaceuticals by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 7,534 shares of the company’s stock valued at $396,000 after purchasing an additional 519 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Aerie Pharmaceuticals by 3.2% during the 3rd quarter. Chartwell Investment Partners LLC now owns 25,591 shares of the company’s stock valued at $1,243,000 after purchasing an additional 791 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Aerie Pharmaceuticals by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,501 shares of the company’s stock valued at $1,235,000 after purchasing an additional 1,235 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Aerie Pharmaceuticals by 31.3% during the 3rd quarter. GSA Capital Partners LLP now owns 6,444 shares of the company’s stock valued at $313,000 after purchasing an additional 1,538 shares in the last quarter. Institutional investors own 97.89% of the company’s stock.

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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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