Aerie Pharma (AERI) PT Raised to $52 at Needham & Company as Roclatan Knocks It Out of the Park
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company analyst Serge Belanger reiterated a Buy rating and boosted his price target on Aerie Pharma (NASDAQ: AERI) to $52.00 (from $45.00) after the company reported positive results from MERCURY-1, the first of two ph 3 trials evaluating Roclatan (fixed-dose combo of Rhopressa and latanoprost) for the treatment of glaucoma.
Roclatan met all of its endpoints, demonstrating statistically significant superiority over each of its components at all 9 time points and IOP-lowering effect 1 - 3 mmHg greater than monotherapy with either of its components. The safety profile of Roclatan was similar to the ph 2 study, with mild hyperemia as the main adverse event.
"These data position Roclatan as one of the most effective IOP-lowering glaucoma treatments. Results from the 2nd ph 3 trial (MERCURY-2) are expected in 2Q17," Belanger said. "We maintain our Buy rating and adjust our PT to $52 (from $45) to reflect the highly positive results and overall de-risking of the program."
Shares of Aerie Pharma closed at $21.13 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $92 at Needham & Company Following Solid 1Q Beat and Raise
- Union Pacific (UNP) PT Raised to $120 at Aegis Capital Following Solid 4Q
- Zayo Group Holdings (ZAYO) PT Raised to $41 at BTIG; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!