In a dramatic turnaround for Irvine, CA-based Aerie, which was forced to concede that its first Phase III had failed to hit the primary endpoint last April, the FDA provided written approval in June to change the primary endpoint for their second late-stage study-Rocket 2-“to include patients with baseline intraocular pressures ranging from above 20 mmHg (millimeters of mercury) to below 25 mmHg”.
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Aerie Pharmaceuticals gapped open dramatically higher Wednesday, but traded in a range for the majority of the day. For these stocks with recent usually high volume, the overall technical picture will be used to help gauge in which direction the next tradable moves will be.
Shares of drug developer Aerie Pharmaceuticals, Inc. And CEO Vicente Anido Jr.is promising $1 billion-plus in blockbuster sales revenue, though not everyone shares his unbridled enthusiasm for this drug. Cantor Fitzgerald reaffirmed a buy rating and set a $30.00 price objective on shares of Aerie Pharmaceuticals in a research report on Thursday, August 6th. The 12-month consensus target price for the stock is $32.86, which reflects an upside potential of 9.53% over the current price.
In a report released today, Adnan Butt from RBC Capital reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI), with a price target of $44.
NVIDIA Corporation (NASDAQ:NVDA) spiked 2.16% to $23.60 after analyst Mark Lipacis of Jefferies upgraded the technology company from Hold to Buy and increased his price target from $23 to $30. Also, Northpointe Capital Llc have 2.15% of their USA long equity exposure invested in the company for 1.03 million shares.
Supercom (NASDAQ:SPCB) last issued its earnings results on Wednesday, September 16th. The Company is focused on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma. With less than four hours remaining, 12.4 million shares have traded compared to its 20-day average of 1.27 million. Its goal was to show that a once-daily dose of Rhopressa was non-inferior to timolol, a popular ingredient in eye drops such as Allergan’s (NYSE:AGN) Combigan and Merck’s (NYSE:MRK) Cosopt.
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“We are very impressed by these Rhopressa Phase 3 results from the Rocket 2 study”. The firm believes that the data provided by the company is sufficient to eliminate all the risk faced by the clinical program. Aerie also recently announced research collaborations with GrayBug, Inc. and Ramot at Tel Aviv University as it further builds it pipeline for future growth.
