Aerie Pharma (AERI) PT Lowered to $48 at Needham & Company

Needham & Company analyst Serge Belanger lowered the price target on Aerie Pharma (NASDAQ: AERI) to $48.00 (from $54.00) while maintaining a Buy rating ahead of the company's 3Q report.

Needham & Company adjusted 3Q19 sales estimates to $18.3MM (from $20.6MM) to reflect a lower Rx net price. Belanger believes 2019 sales can meet the low end of the $70MM- $80MM guidance range but it will likely require further growth inflection in Nov/Dec as well as improved Rx pricing via the recent price increase.

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