Aerie Pharmaceuticals (NASDAQ:AERI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, February 9th.
According to Zacks, “Aerie received a significant boost with the recent approval of lead drug Rhopressa.The approval came ahead of the PDUFA date in Feb. The approval will significantly boost Aerie's prospects as glaucoma is one of the largest segments in the global ophthalmic market. Aerie is also evaluating Roclatan, a once-daily, quadrupleaction fixed-dose combination of Rhopressa and Xalatan. 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. Aerie’s shares have outperformed the industry in the last one year.”
AERI has been the topic of several other reports. Mizuho reiterated a “buy” rating and issued a $70.00 price objective on shares of Aerie Pharmaceuticals in a report on Wednesday, October 25th. Seaport Global Securities initiated coverage on shares of Aerie Pharmaceuticals in a research note on Friday, January 26th. They issued a “buy” rating and a $78.00 target price on the stock. Canaccord Genuity set a $73.00 target price on shares of Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, December 18th. Cantor Fitzgerald set a $77.00 price target on shares of Aerie Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, BidaskClub raised shares of Aerie Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.21.
Shares of Aerie Pharmaceuticals (NASDAQ:AERI) opened at $54.90 on Friday. 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 12-month low of $38.14 and a 12-month high of $66.60.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Aerie Pharmaceuticals by 55.0% during the second quarter. Vanguard Group Inc. now owns 2,158,825 shares of the company’s stock worth $113,446,000 after purchasing an additional 766,300 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Aerie Pharmaceuticals by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 613,305 shares of the company’s stock valued at $36,645,000 after acquiring an additional 63,030 shares during the last quarter. Columbus Circle Investors lifted its position in Aerie Pharmaceuticals by 41.0% in the third quarter. Columbus Circle Investors now owns 519,806 shares of the company’s stock valued at $25,263,000 after acquiring an additional 151,133 shares during the last quarter. Northern Trust Corp lifted its position in Aerie Pharmaceuticals by 6.6% in the second quarter. Northern Trust Corp now owns 405,116 shares of the company’s stock valued at $21,289,000 after acquiring an additional 25,254 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Aerie Pharmaceuticals by 67.1% in the third quarter. Russell Investments Group Ltd. now owns 388,666 shares of the company’s stock valued at $18,889,000 after acquiring an additional 156,056 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.
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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