Aerie Pharma (AERI) PT Raised to $55 at Stifel Following Analyst Day
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Stifel analyst Annabel Samimy reiterated a Buy rating and boosted her price target on Aerie Pharma (NASDAQ: AERI) to $55.00 (from $50.00) following the company's analyst day.
Samimy commented, "On the heels of its successful Phase 3 MERCURY readout last month, AERI held an Investor Day to shed additional light into the Roclatan program, commercial positioning for both Rhopressa and Roclatan, and physician reception and future adoption. The Roclatan data reinforce Roclatan’s front-line positioning with efficacy across the broadest spectrum of IOPs and potential to establish a “new low normal” for glaucoma. On Rhopressa, AERI has begun pre-commercialization activities for US launch. In parallel, discussions with Japanese and European health agencies are progressing, but AERI expects to advance clinical/regulatory activities independently while partnership discussions remain ongoing. Separately, AERI continues to engage in preclinical activities intended on expanding Rhopressa’s utility (neuroprotection, disease-modifying, front-of-the-eye sustained delivery) as well as its pipeline optionality (AR-13154/AMD). With a largely de-risked portfolio and multiple ophthalmic activities underway, we believe AERI is well-positioned, and well-financed, to become an important ophthalmic competitor in the coming years. We reiterate our Buy rating and raise our TP to $55."
Shares of Aerie Pharma closed at $39.26 yesterday.
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