RBC Lifts PT on Aerie Pharma (AERI) to $55 Following Roclatan Phase 3 Results

September 15, 2016 7:14 AM EDT
Get Alerts AERI Hot Sheet
Price: $35.81 -0.28%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
Trade AERI Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

RBC Capital boosts its price target on Outperform-rated Aerie Pharmaceuticals (Nasdaq: AERI) from $51 to $55 after the company announced positive Roclatan phase 3 data.

The firm commented, The second Phase 3 is similar in design so it should work as well making Roclatan approvable, a standard of care, and blockbuster drug for glaucoma. Rhopressa gets approved in 2017 and Roclatan in 2018. Given the rarity of new mechanisms targeting glaucoma, AERI could be successful independently or as a likely takeout.

We are raising our price target to $55 to reflect greater confidence in AERI’s anti-glaucoma franchise to both become a blockbuster and eligible for a take-out. First positive Phase 3 for Roclatan significantly de-risks the program and de-risking should continue with each future readout for Rhopressa and Roclatan.

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

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, FDA

Related Entities

RBC Capital

Add Your Comment