Canaccord analyst Dewey Steadman lowered his price target for Aerie Pharmaceuticals to $56 from $65 following the company's Q1 results, saying Aerie posted a sequential revenue decline from Q4 and a top- line miss relative to consensus expectations as growth from Rhopressa meaningfully slowed from its post-launch ramp last year. In a research note to investors, Steadman says he thinks Aerie will be highly dependent on a return to Rhopressa growth coupled with exceptionally strong Rocklatan launch metrics to meet its $110M-$120M 2019 revenue guide after posting only ~$11M in Q1 revenue. Steadman "reluctantly" maintains a Buy rating, saying the need to flawlessly execute, coupled with a lack of binary pipeline catalysts, leave him to believe that Aerie shares will likely be rangebound for the near future.