Aerie Pharma (AERI) PT Raised to $45 at Needham & Company

Needham & Company analyst Serge Belanger reiterated a Buy rating and boosted his price target on Aerie Pharma (NASDAQ: AERI) to $45.00 (from $27.00) after the company reported top-line results from ROCKET-2, where Rhopressa met the primary endpoint by demonstrating non-inferiority in IOP-lowering vs. timolol.

Belanger commented, "Recall, FDA had previously agreed to modify the ROCKET-2 primary endpoint to include patients with baseline IOPs in the range of 20 - 25 mmHg (from 20 - 27 mmHg). Based on prior FDA discussions, AERI believes it can proceed with a NDA filing (targeted for mid-2016). ROCKET-4, initiating in 3Q15, should serve as an insurance policy in the event that additional data are required for approval. Based on ROCKET-1 and -2 results, Rhopressa, with its novel triple mechanism of action, looks well positioned to become the first new glaucoma treatment in over 20 years."

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

Shares of Aerie Pharma closed at $18.00 yesterday.

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