Aerie Pharmaceuticals (NASDAQ:AERI) Cut to “Strong Sell” at BidaskClub

Aerie Pharmaceuticals (NASDAQ:AERI) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

Other research analysts also recently issued reports about the company. Oppenheimer set a $13.00 price target on Alpine Immune Sciences and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Mizuho reissued a “buy” rating and issued a $77.00 target price on shares of Aerie Pharmaceuticals in a research report on Sunday, April 21st. Zacks Investment Research raised GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research report on Monday, May 27th. Piper Jaffray Companies cut their price target on Apyx Medical to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Finally, HC Wainwright restated a “buy” rating on shares of Aerie Pharmaceuticals in a research note on Tuesday, February 26th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $71.25.

NASDAQ AERI traded down $0.40 during trading hours on Wednesday, hitting $23.62. The company’s stock had a trading volume of 572,015 shares, compared to its average volume of 648,617. The stock has a fifty day moving average of $30.81. Aerie Pharmaceuticals has a twelve month low of $23.12 and a twelve month high of $74.75. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -5.05 and a beta of 0.53. The company has a quick ratio of 3.27, a current ratio of 3.47 and a debt-to-equity ratio of 0.06.

Aerie Pharmaceuticals (NASDAQ:AERI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.78) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.91) by $0.13. The firm had revenue of $10.85 million during the quarter, compared to the consensus estimate of $12.66 million. Aerie Pharmaceuticals had a negative net margin of 684.56% and a negative return on equity of 93.96%. As a group, sell-side analysts anticipate that Aerie Pharmaceuticals will post -2.69 EPS for the current year.

A number of institutional investors have recently made changes to their positions in AERI. Bank of Montreal Can raised its holdings in shares of Aerie Pharmaceuticals by 40.2% in 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 during the period. Meeder Asset Management Inc. grew its stake in Aerie Pharmaceuticals by 134.0% during the 1st quarter. Meeder Asset Management Inc. now owns 1,060 shares of the company’s stock worth $50,000 after purchasing an additional 607 shares in the last quarter. Truvestments Capital LLC acquired a new position in Aerie Pharmaceuticals during the 1st quarter worth $33,000. JGP Global Gestao de Recursos Ltda. grew its stake in Aerie Pharmaceuticals by 10.4% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 8,523 shares of the company’s stock worth $405,000 after purchasing an additional 800 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Aerie Pharmaceuticals during the 1st quarter worth $41,000.

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.

Further Reading: Preferred Stock

Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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