Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) traded up 6.3% during mid-day trading on Wednesday . The company traded as high as $20.64 and last traded at $20.28, 1,385,000 shares traded hands during trading. An increase of 56% from the average session volume of 887,969 shares. The stock had previously closed at $19.08.
A number of equities research analysts recently issued reports on the company. HC Wainwright decreased their price target on Aerie Pharmaceuticals from $55.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Mizuho reissued a “buy” rating and set a $54.00 price target (down from $63.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, November 7th. Citigroup reissued an “outperform” rating and set a $45.00 price target (down from $65.00) on shares of Aerie Pharmaceuticals in a research note on Thursday, August 8th. JMP Securities decreased their price target on Aerie Pharmaceuticals to $41.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Stifel Nicolaus decreased their price target on Aerie Pharmaceuticals from $77.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.58.
The company has a current ratio of 5.43, a quick ratio of 5.23 and a debt-to-equity ratio of 0.94. The stock has a 50-day simple moving average of $20.19 and a two-hundred day simple moving average of $24.72. The firm has a market capitalization of $939.62 million, a P/E ratio of -4.36 and a beta of 0.45.
In related news, major shareholder Foresite Capital Management Ii purchased 15,700 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $18.42 per share, for a total transaction of $289,194.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vicente Anido, Jr. purchased 26,250 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $19.01 per share, for a total transaction of $499,012.50. Following the completion of the acquisition, the chief executive officer now directly owns 195,631 shares in the company, valued at approximately $3,718,945.31. The disclosure for this purchase can be found here. Insiders bought a total of 46,990 shares of company stock worth $888,654 over the last quarter. Company insiders own 8.71% of the company’s stock.
Several large investors have recently made changes to their positions in AERI. Tower Research Capital LLC TRC increased its holdings in shares of Aerie Pharmaceuticals by 2,330.0% in the 2nd 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 during the period. Endurance Wealth Management Inc. increased its holdings in shares of Aerie Pharmaceuticals by 173.7% in the 3rd 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 purchased a new position in shares of Aerie Pharmaceuticals in the 2nd quarter valued at $115,000. Bank of Montreal Can grew its stake in Aerie Pharmaceuticals by 497.8% during the 2nd quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock worth $119,000 after buying an additional 3,350 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in Aerie Pharmaceuticals during the 2nd quarter worth $134,000.
About Aerie Pharmaceuticals (NASDAQ:AERI)
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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