BofA analyst Jason Gerberry initiated coverage of Aerie Pharmaceuticals with a Neutral rating and $27 price target. Gerberry tells investors in a research note that while the payer issues surrounding Rocklatan may prove transient, he is kept Neutral by a lack of certainty around 2020 Medicare Part D coverage expansion for Rocklatan that may erode with broader Part D coverage, as well as Q4 script trends that offer only slight upside to cons. The analyst says the potential negatives are balanced by the fact that Rocklatan offers physicians a novel mechanism for tough to treat 2L+ glaucoma & upcoming EU trial MERCURY-3 could improve takeout appeal to global ophthalmology suitor.