Aerie Pharmaceuticals, Inc’s (AERI) Rhopressa is Particularly Well Positioned for Japan Entry - Analyst

October 12, 2021 10:28 AM EDT
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Price: $11.46 -1.21%

Rating Summary:
    18 Buy, 1 Hold, 1 Sell

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Today's Overall Ratings:
    Up: 5 | Down: 12 | New: 29
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Earlier today, Aerie Pharmaceuticals, Inc. (NASDAQ: AERI), reported positive topline results for the Company’s Phase 3 clinical trial in Japan evaluating netarsudil ophthalmic solution 0.02% (“netarsudil 0.02%”) versus ripasudil hydrochloride hydrate ophthalmic solution 0.4% (“ripasudil 0.4%”). The results showed that netarsudil 0.02% once daily was superior to ripasudil 0.4% twice daily in lowering intraocular pressure (“IOP”) at week four (p<0.0001), the primary endpoint for the study.

Reacting to the news, Stifel analyst Annabel Samimy notes that “With these compelling head-to-head results, Rhopressa is well-positioned to take the low-hanging fruit of ripasudil’s current market share (5%) and even move beyond given ROCK inhibitor acceptance in Japan, a market where low-tension glaucoma dominates.”

She believes that “backed by Santen’s large commercial footprint, this moves AERI another step closer to global expansion.”

Stifel reiterates a “BUY” rating on Aerie Pharmaceuticals and a $30 Price target.

Shares of AERI are trading nearly 2% lower.

Written by Vlad Schepkov | Vlad@StreetInsider.comAerie Pharma (NASDAQ: AERI)

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Stifel, Vlad Schepkov