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Fly News Breaks for August 8, 2019
AERI
Aug 8, 2019 | 06:45 EDT
JMP Securities analyst Donald Ellis lowered his price target on Aerie Pharmaceuticals to $52 after its below-consensus Q2 results and revenue guidance cut. The analyst also keeps his Outperform rating and believes that the stock is oversold, trading at lower levels that even before filing an NDA for Rhopressa's or releasing its Rocklatan's Phase 3 data. Ellis notes that the sales of Rhopressa's progressed slower because of coverage issues and Medicare rebates, but sees the growth potential on the franchise as intact.
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