Aerie Pharma (AERI) Target Price Lifted to $22 at Needham & Company Following Data

January 9, 2014 1:29 PM EST
Get Alerts AERI Hot Sheet
Price: $41.40 --0%

Rating Summary:
    10 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 44
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Needham & Company analyst Elliot Wilbur boosted his price target on Buy-rated Aerie Pharma (NASDAQ: AERI) from $18 to $22 saying today's data supports more favorable uptake assumptions.

"Phase I results from a pharmacokinetic study of AR-13324, though largely a "checkbox" item designed to gauge systemic exposure, did provide incremental supportive data highlighting the agent's consistent intraocular pressure (IOP) lowering effects regardless of baseline IOP," Wilbur states. "Additionally data showed large IOP lowering effect in patients with normal IOP levels, a key differentiator vs. current glaucoma drugs and an outcome potentially supportive of an additional third MOA for the drug which if proven supports potential for far greater usage as a first-line glaucoma drug."

For an analyst ratings summary and ratings history on Aerie Pharma click here. For more ratings news on Aerie Pharma click here.

Shares of Aerie Pharma closed at $18.30 yesterday.

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