Aerie Pharma (AERI): Reiterating Buy Ahead Of 2 Major Catalysts - Needham
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Needham & Company analyst, Serge Belanger, reiterated his Buy rating on Aerie Pharma (NASDAQ: AERI) ahead of two major catalysts expected in 3Q16:
1) the NDA filing for Rhopressa
2) the top-line readout of MERCURY-1, the first of two pivotal ph 3 studies evaluating Roclatan as a glaucoma treatment.
The analyst stated "The positive ph 2b results of Roclatan and the completed Rhopressa clinical program give us confidence for Roclatan's ph 3 MERCURY program, and extending positive 29-day ph 2b efficacy/safety results out to 12 wks (primary endpoint) and beyond. Roclatan has demonstrated the potential to play a major role in treating glaucoma, thus we view upcoming results as a major valuation catalyst for AERI".
No change to the price target of $45.
Shares of Aerie Pharma closed at $19.46 yesterday.
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