Aegis Capital has reiterated a ‘Buy’ rating and price target of $63 on Aerie Pharmaceuticals, Inc. (NASDAQ: AERI) following the company’s recent financial results for the first quarter ended March 31, 2017. The company reported that cash, cash equivalents, and investments at the end of the quarter totaled $207.9 million. The analyst noted that because Aerie is a clinical stage development company, the firm is more focused on upcoming catalysts than quarterly financials. Catalysts for the company include the completion of the Rocket 4 trial; the upcoming Mercury 2 three-month efficacy and safety readout for Roclatan that is expected in the second quarter of 2017; and the potential U.S. launch of Rhopressa for which Aerie is currently prepping.
For more information, visit www.aeriepharma.com
About Aerie Pharmaceuticals, Inc.
Aerie is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of patients with glaucoma and other diseases of the eye. Aerie’s two current product candidates are once-daily intraocular pressure-lowering therapies with novel mechanisms of action to treat patients with glaucoma or ocular hypertension. The NDA for RhopressaTM (netarsudil ophthalmic solution) 0.02% was submitted to the FDA in February 2017. Aerie’s second product candidate, RoclatanTM (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005%, which is a fixed dose combination of RhopressaTM and widely prescribed PGA latanoprost, currently has two phase 3 registration trials underway, named Mercury 1 and Mercury 2. If these trials are successful, a RoclatanTM NDA submission is expected to take place in late 2017 or early 2018. Aerie is also focused on the development of additional product candidates and technologies in ophthalmology.
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