Norges Bank bought a new position in shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 299,593 shares of the company’s stock, valued at approximately $10,815,000. Norges Bank owned 0.66% of Aerie Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake in Aerie Pharmaceuticals by 3.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 19,031 shares of the company’s stock worth $687,000 after buying an additional 660 shares in the last quarter. Pearl River Capital LLC purchased a new stake in Aerie Pharmaceuticals in the 4th quarter worth $59,000. Foresite Capital Management IV LLC purchased a new stake in Aerie Pharmaceuticals in the 4th quarter worth $9,452,000. Handelsbanken Fonder AB increased its stake in Aerie Pharmaceuticals by 19.2% in the 4th quarter. Handelsbanken Fonder AB now owns 393,300 shares of the company’s stock worth $14,198,000 after buying an additional 63,300 shares in the last quarter. Finally, Suffolk Capital Management LLC increased its stake in Aerie Pharmaceuticals by 10.9% in the 4th quarter. Suffolk Capital Management LLC now owns 230,149 shares of the company’s stock worth $8,308,000 after buying an additional 22,679 shares in the last quarter.
AERI has been the subject of a number of research analyst reports. Piper Jaffray Companies initiated coverage on Aerie Pharmaceuticals in a research report on Thursday, March 21st. They set an “overweight” rating and a $80.00 price objective for the company. Zacks Investment Research upgraded Aerie Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, March 22nd. Canaccord Genuity cut their price objective on Aerie Pharmaceuticals from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, May 10th. BidaskClub raised shares of Aerie Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. Finally, Mizuho reaffirmed a “buy” rating and issued a $77.00 price target on shares of Aerie Pharmaceuticals in a report on Sunday, April 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. Aerie Pharmaceuticals has an average rating of “Buy” and a consensus price target of $75.42.
Shares of NASDAQ:AERI traded down $0.75 during trading on Wednesday, reaching $40.11. 176,955 shares of the company were exchanged, compared to its average volume of 630,903. The firm has a market cap of $1.82 billion, a PE ratio of -8.63 and a beta of 0.82. Aerie Pharmaceuticals Inc has a 12-month low of $32.18 and a 12-month high of $74.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 3.47.
Aerie Pharmaceuticals (NASDAQ:AERI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.78) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.91) by $0.13. The business had revenue of $10.85 million for the quarter, compared to analyst estimates of $12.66 million. Aerie Pharmaceuticals had a negative net margin of 684.56% and a negative return on equity of 93.96%. Equities research analysts predict that Aerie Pharmaceuticals Inc will post -2.6 EPS for the current fiscal year.
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Aerie Pharmaceuticals 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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