Aerie Pharmaceuticals Inc (NASDAQ:AERI) traded up 7.4% during trading on Thursday . The company traded as high as $50.10 and last traded at $49.25. 1,062,790 shares changed hands during trading, an increase of 53% from the average session volume of 695,002 shares. The stock had previously closed at $45.86.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Canaccord Genuity set a $65.00 target price on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald set a $85.00 target price on Aerie Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, February 26th. ValuEngine cut Aerie Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Mizuho reiterated a “buy” rating and set a $77.00 target price on shares of Aerie Pharmaceuticals in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $76.92.
The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -10.59 and a beta of 0.97.
In related news, insider Casey C. Kopczynski sold 11,000 shares of Aerie Pharmaceuticals stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $46.17, for a total value of $507,870.00. Following the completion of the sale, the insider now owns 97,243 shares of the company’s stock, valued at approximately $4,489,709.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 10.53% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AERI. Bank of Montreal Can grew its holdings in Aerie Pharmaceuticals by 40.2% during the 4th quarter. Bank of Montreal Can now owns 1,060 shares of the company’s stock valued at $38,000 after buying an additional 304 shares in the last quarter. Pearl River Capital LLC purchased a new position in Aerie Pharmaceuticals during the 4th quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Aerie Pharmaceuticals by 23.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock valued at $99,000 after buying an additional 515 shares in the last quarter. Girard Partners LTD. purchased a new position in Aerie Pharmaceuticals during the 3rd quarter valued at about $105,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Aerie Pharmaceuticals during the 4th quarter valued at about $105,000.
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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 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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