Shares are trading at $61.75 which is marginally over $57.70, the 50 day moving average and which is significantly higher than the 200 day moving average of $52.53. The 50 day moving average went up by +7.02% whereas the 200 day moving average was up $9.22 or +17.56%. (NASDAQ:AERI) shares saw light trading volume with 538K shares changing hands by the end of trading on Tuesday. Overall, volume was down 35.67% under the stocks normal daily volume.
Traders are more bullish on Aerie Pharmaceuticals, Inc. of late as evidenced by the fall in short interest. The firm had a fall in short interest from September 29, 2017 to October 13, 2017 of -11.90%. Short shares fell 538,812 over that timeframe. Days to cover decreased from 5.0 to 3.0 and the percentage of shorted shares was 0.11% on October 13.
The following firms have recently changed their position in AERI. Nationwide Fund Advisors bolstered its position by buying 10,382 shares an increase of 17.0% from 06/30/2017 to 09/30/2017. Nationwide Fund Advisors currently owns 71,609 shares valued at $3,480,000. The value of the position overall is up by 8.2%. Benchmark Capital Advisors augmented its investment by buying 16,000 shares an increase of 119.4%. Benchmark Capital Advisors claims 29,400 shares worth $1,429,000. The total value of its holdings increased 103.0%.
As of the end of the quarter Parkside Financial Bank & Trust had bought 72 shares growing its stake by 59.5%. The value of the investment in (AERI) increased from $6,000 to $9,000 a change of $3,000 quarter to quarter. As of quarter end Aperio Group, LLC had acquired a total of 303 shares growing its position 6.2%. The value of the total investment in Aerie Pharmaceuticals, Inc. went from $258,000 to $254,000 decreasing 1.6% quarter over quarter.
Equity analyst Mizuho began coverage of the stock by announcing an initial rating of “Buy”. October 16 investment analysts at Canaccord Genuity held the company rating at “Buy” and moved up the price target to $73.00 from $44.00.
On October 24, 2017 Guggenheim added the stock to its research portfolio with a rating of “Buy”.
In the last earnings report the EPS was $-3.26 and is projected to be $-2.59 for the current year with 36,340,000 shares outstanding. Next quarter’s EPS is estimated at $-0.70 with next year’s EPS anticipated to be $-2.17.
Aerie Pharmaceuticals, Inc., launched on June 22, 2005, is a clinical-stage pharmaceutical company. The Company is involved in the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The Business’s product candidates include Rhopressa (netarsudil ophthalmic solution) 0.02% (Rhopressa), and Roclatan (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005% (Roclatan). The Business’s product candidates are designed to lower intraocular pressure (IOP) in patients with open-angle glaucoma and ocular hypertension..