Zacks Investment Research upgraded shares of Aerie Pharmaceuticals (NASDAQ:AERI) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Aerie received a significant boost with the recent approval of lead drug Rhopressa. The approval came ahead of the PDUFA date. Meanwhile, Aerie is also evaluating Roclatan, a once-daily, quadruple action fixed-dose combination of Rhopressa and Xalatan. Aerie’s shares have outperformed the industry in the last twelve months. 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 is also approved for open-angle glaucoma or ocular hypertension. Rhopressa will face a tough time in gaining market share due to competition from these products. Any approval delays for Roclatan like Rhopressa will be detrimental to the company's growth prospects.”
AERI has been the subject of a number of other research reports. Seaport Global Securities initiated coverage on shares of Aerie Pharmaceuticals in a report on Friday, January 26th. They set a buy rating and a $78.00 price objective for the company. Canaccord Genuity set a $73.00 price objective on shares of Aerie Pharmaceuticals and gave the company a buy rating in a report on Monday, December 18th. Cantor Fitzgerald set a $77.00 price objective on shares of Aerie Pharmaceuticals and gave the company a buy rating in a report on Monday, December 18th. BidaskClub upgraded shares of Aerie Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, January 23rd. Finally, Mizuho reiterated a buy rating and set a $87.00 price objective on shares of Aerie Pharmaceuticals in a report on Monday, January 29th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $78.75.
Aerie Pharmaceuticals (NASDAQ:AERI) last released its earnings results on Wednesday, February 28th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.21) by ($0.17). research analysts forecast that Aerie Pharmaceuticals will post -3.62 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bamco Inc. NY increased its position in Aerie Pharmaceuticals by 19.4% during the 4th quarter. Bamco Inc. NY now owns 7,351 shares of the company’s stock valued at $439,000 after purchasing an additional 1,195 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in Aerie Pharmaceuticals by 2.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 62,720 shares of the company’s stock valued at $3,748,000 after purchasing an additional 1,273 shares during the period. GSA Capital Partners LLP increased its position in 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 during the period. Great West Life Assurance Co. Can increased its position in Aerie Pharmaceuticals by 65.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,160 shares of the company’s stock valued at $204,000 after purchasing an additional 1,639 shares during the period. Finally, QS Investors LLC purchased a new position in Aerie Pharmaceuticals during the 4th quarter valued at about $125,000. 96.96% of the stock is currently owned by institutional investors and hedge funds.
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 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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