RBC Affirms Aerie Pharma (AERI) at 'Outperform'; Positive on Data from Another Rho Kinase Inhibitor
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RBC Capital is out positive on Aerie Pharmaceuticals (Nasdaq: AERI) amid a recent AAO update. The firm has AERI at Outperform with a price target of $55.
Analyst Adnan Butt commented today:
Data from another rho kinase inhibitor shows improved efficacy over Avastin when combined in DME patients, which could be an additional opportunity for Rhopressa as well. This also means there could be unrealized value in AERI’s compound library that a potential acquirer may pay for on top of Rhopressa/Roclatan. Furthermore, experts on a glaucoma panel thought Roclatan’s 1.5 mmHg difference in efficacy is clinically meaningful.
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