Benzinga | Oct 19, 2020 11:28AM EDT

Why Aerie Pharmaceuticals Is Trading Lower Today

Aerie Pharmaceuticals (NASDAQ:AERI) shares are trading lower on Monday after Bank of America downgraded the stock from Neutral to Underperform and announced a price target of $9 per share.

Aerie is a clinical-stage pharmaceutical company. It is focused on discovery, development, and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. Its main products are Rhopressa and Roclatan. The company mainly operates in North America.

Aerie Pharmaceuticals shares traded down 13.53% to $10.06 on Monday. The stock has a 52-week high of $26.26 and a 52-week low of $9.86.