Shares of Aerie Pharmaceuticals Inc (NASDAQ:AERI) fell 5.7% during trading on Friday . The stock traded as low as $22.11 and last traded at $22.74, 1,391,153 shares changed hands during mid-day trading. An increase of 58% from the average session volume of 881,871 shares. The stock had previously closed at $24.11.

A number of analysts recently issued reports on AERI shares. ValuEngine raised shares of Aerie Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Aerie Pharmaceuticals in a report on Monday, December 30th. JMP Securities decreased their price objective on shares of Aerie Pharmaceuticals to $41.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Citigroup started coverage on shares of Aerie Pharmaceuticals in a report on Thursday, December 19th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Bank of America started coverage on shares of Aerie Pharmaceuticals in a report on Friday, January 10th. They set a “neutral” rating and a $27.00 price objective on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.07.

The company has a debt-to-equity ratio of 0.94, a current ratio of 5.43 and a quick ratio of 5.23. The firm has a market capitalization of $1.14 billion, a PE ratio of -4.89 and a beta of 0.53. The company’s fifty day simple moving average is $22.83 and its 200-day simple moving average is $22.12.

Aerie Pharmaceuticals (NASDAQ:AERI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.02). The company had revenue of $18.54 million for the quarter, compared to analysts’ expectations of $17.59 million. Aerie Pharmaceuticals had a negative net margin of 328.34% and a negative return on equity of 77.63%. Analysts forecast that Aerie Pharmaceuticals Inc will post -3.89 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Aerie Pharmaceuticals by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 11,595 shares of the company’s stock worth $337,000 after purchasing an additional 2,953 shares during the last quarter. Bank of Montreal Can increased its position in shares of Aerie Pharmaceuticals by 497.8% during the second quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock valued at $119,000 after acquiring an additional 3,350 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Aerie Pharmaceuticals by 7.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 234,913 shares of the company’s stock valued at $6,942,000 after acquiring an additional 16,668 shares during the last quarter. BlackRock Inc. increased its position in shares of Aerie Pharmaceuticals by 11.0% during the second quarter. BlackRock Inc. now owns 3,358,901 shares of the company’s stock valued at $99,255,000 after acquiring an additional 331,884 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Aerie Pharmaceuticals by 2,330.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock valued at $43,000 after acquiring an additional 1,398 shares during the last quarter.

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, 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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