Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) Closed Much Higher Than Its 50 Day Average


Shares last traded at $63.30 which is significantly higher than $56.90, the stock’s 50 day moving average and significantly above the 200 day moving average of $51.75. The 50 day moving average went up by +11.26% whereas the 200 day moving average was up $11.55 or +22.33%. Trading was light with 456K shares changing hands on Tuesday. Volume was down 63.76% under the stocks average daily volume.

Investors are more bullish on the company recently if you put credence in the motion in short interest. The company saw a fall in short interest between September 15, 2017 and September 29, 2017 of -14.69%. Short interest fell 779,444 over that timeframe. The days to cover decreased to 5.0 and the percentage of shorted shares was 0.13% on September 29.

The following firms have recently changed their position in AERI. Bailard, Inc. trimmed its position by selling 17,250 shares a decrease of 50.0% from 06/30/2017 to 09/30/2017. Bailard, Inc. owns 17,250 shares worth $838,000. The total value of its holdings decreased 53.8%. Cutler Group LP cut its holdings by shedding 3,696 shares a decrease of 59.4% in the quarter. Cutler Group LP currently owns 2,521 shares valued at $122,000. The value of the position overall is down by 62.6%.

As of the end of the quarter Creative Planning had bought a total of 600 shares growing its stake by 16.7%. The value of the investment in Aerie Pharmaceuticals, Inc. went from $189,000 to $204,000 a change of $15,000 since the last quarter. Rhenman & Partners Asset Management Ab augmented its ownership by buying 45,932 shares an increase of 61.2% as of 09/30/2017. Rhenman & Partners Asset Management Ab now controls 120,932 shares with a value of $5,877,000. The value of the position overall is up by 49.1%.

Mizuho initiated coverage on the stock with a rating of “Buy”. On October 16 Canaccord Genuity held the company rating at “Buy” and raised the price expectation from $44.00 to $73.00.

In the latest earnings report the EPS was $-3.26 and is estimated to be $-2.59 for the current year with 36,340,000 shares currently outstanding. Next quarter’s EPS is expected be $-0.70 and the next full year EPS is anticipated to be $-2.19.

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..