Despite Big Move, Aerie Pharma (AERI) Not Getting Credit for Drug Potential - Brean Capital
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Brean Capital analyst Difei Yang reiterated a Buy rating and $48 price target on Aerie Pharma (NASDAQ: AERI) after announced top-line efficacy results from its Phase III “Mercury 1” clinical trial for Roclatan, a fixed dose combination product designed to treat glaucoma.
Yang said the results, reconfirming potential for Roclatan, showed statistically significant superiority over both latanoprost and Rhopressa at each of the nine measured time points with baseline IOPs from above 20 to below 36 mmHg.
"While the share price went up to ~$34/share during after-market session, we believe it is still not giving the full credit of potential commercial value of Rhopressa and Roclatan," the analyst aid.
Shares of Aerie Pharma closed at $21.13 yesterday.
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