BidaskClub Downgrades Aerie Pharmaceuticals (NASDAQ:AERI) to Strong Sell

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Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, BidAskClub reports.

Several other equities analysts have also issued reports on AERI. SunTrust Banks initiated coverage on Aerie Pharmaceuticals in a research note on Thursday, January 9th. They set a “buy” rating and a $32.00 target price on the stock. Stifel Nicolaus cut their price target on Aerie Pharmaceuticals from $77.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Oppenheimer cut their price target on Aerie Pharmaceuticals from $45.00 to $25.00 in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Aerie Pharmaceuticals in a report on Monday, December 30th. Finally, Cantor Fitzgerald cut their price target on Aerie Pharmaceuticals from $62.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Aerie Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $40.40.

AERI opened at $19.45 on Friday. The stock’s 50-day moving average price is $22.48 and its 200 day moving average price is $21.58. Aerie Pharmaceuticals has a 12-month low of $17.15 and a 12-month high of $50.10. 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 firm has a market cap of $944.47 million, a price-to-earnings ratio of -4.49 and a beta of 0.53.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AERI. Cubist Systematic Strategies LLC grew its stake in Aerie Pharmaceuticals by 165.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 127,490 shares of the company’s stock worth $3,081,000 after buying an additional 79,464 shares during the last quarter. Partner Investment Management L.P. grew its stake in Aerie Pharmaceuticals by 7.8% during the 4th quarter. Partner Investment Management L.P. now owns 18,035 shares of the company’s stock worth $436,000 after buying an additional 1,304 shares during the last quarter. Partner Fund Management L.P. grew its stake in Aerie Pharmaceuticals by 31.8% during the 4th quarter. Partner Fund Management L.P. now owns 2,413,464 shares of the company’s stock worth $58,333,000 after buying an additional 582,540 shares during the last quarter. First Republic Investment Management Inc. grew its stake in Aerie Pharmaceuticals by 63.9% during the 4th quarter. First Republic Investment Management Inc. now owns 17,585 shares of the company’s stock worth $425,000 after buying an additional 6,859 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in Aerie Pharmaceuticals by 104.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 180,148 shares of the company’s stock worth $4,354,000 after buying an additional 92,248 shares during the last quarter.

Aerie Pharmaceuticals Company Profile

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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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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