Needham & Company LLC assumed coverage on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research report released on Friday morning, TipRanks reports. The firm issued a buy rating and a $38.00 target price on the stock.

Several other analysts also recently weighed in on the company. Mizuho decreased their target price on Aerie Pharmaceuticals from $34.00 to $29.00 and set a buy rating for the company in a research note on Thursday, May 7th. Oppenheimer began coverage on Aerie Pharmaceuticals in a research report on Friday, May 29th. They issued a buy rating and a $24.00 price objective for the company. Bank of America reaffirmed a hold rating and set a $17.00 target price on shares of Aerie Pharmaceuticals in a research report on Monday, March 23rd. Piper Sandler reduced their price target on shares of Aerie Pharmaceuticals from $45.00 to $35.00 and set an overweight rating for the company in a report on Thursday, May 7th. Finally, BidaskClub downgraded shares of Aerie Pharmaceuticals from a hold rating to a sell rating in a report on Friday, May 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $33.07.

Shares of NASDAQ:AERI opened at $14.88 on Friday. The firm has a 50 day simple moving average of $15.11 and a 200 day simple moving average of $17.68. Aerie Pharmaceuticals has a 52 week low of $10.80 and a 52 week high of $30.65. The company has a debt-to-equity ratio of 1.61, a quick ratio of 4.02 and a current ratio of 4.28. The company has a market cap of $701.23 million, a PE ratio of -3.37 and a beta of 0.90.

Aerie Pharmaceuticals (NASDAQ:AERI) last announced its earnings results on Wednesday, May 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.08). The firm had revenue of $20.34 million for the quarter, compared to analyst estimates of $21.04 million. Aerie Pharmaceuticals had a negative net margin of 252.92% and a negative return on equity of 95.74%. On average, equities analysts predict that Aerie Pharmaceuticals will post -3.44 earnings per share for the current year.

In other Aerie Pharmaceuticals news, Director Gerald D. Cagle sold 5,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $15.27, for a total value of $76,350.00. Following the sale, the director now directly owns 16,550 shares in the company, valued at $252,718.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.72% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AERI. Endurance Wealth Management Inc. raised its holdings in shares of Aerie Pharmaceuticals by 32.6% in the first quarter. Endurance Wealth Management Inc. now owns 3,050 shares of the company’s stock valued at $41,000 after purchasing an additional 750 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Aerie Pharmaceuticals by 60.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the company’s stock valued at $49,000 after purchasing an additional 1,351 shares in the last quarter. FDx Advisors Inc. acquired a new stake in Aerie Pharmaceuticals in the 1st quarter valued at $58,000. Tower Research Capital LLC TRC increased its stake in Aerie Pharmaceuticals by 66.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,693 shares of the company’s stock valued at $65,000 after buying an additional 1,071 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in Aerie Pharmaceuticals during the 4th quarter worth about $77,000.

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.

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Analyst Recommendations for Aerie Pharmaceuticals (NASDAQ:AERI)

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