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Fly News Breaks for October 11, 2017
Oct 11, 2017 | 13:15 EDT
JMP Securities analyst Donald Ellis called the briefing document for the advisory meeting to review Aerie Pharmaceuticals' Rhopressa "bullish," noting that the document included a statement that the company has shown in three Phase 3 trials that the drug is non-inferior to timolol. "Surprisingly," the FDA included a sample product label, which it rarely does, suggesting the agency "is fully planning on approving Rhopressa," Ellis tells investors. He maintains an Outperform rating and $68 price target on Aerie shares, which are up 16% to $64.20 in afternoon trading.
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