It has been about a month since the last earnings report for Aerie Pharmaceuticals . Shares have lost about 0.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Aerie due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Aerie's Q2 Loss Wider Than Expected, Revenues Beat
Aerie incurred a loss of 67 cents per share for the second quarter, wider than the Zacks Consensus Estimate of a loss of 65 cents but narrower than the year-ago loss of 83 cents.
Revenues came in at $27.2 million, which increased from $18 million in the year-ago quarter and beat the Zacks Consensus Estimate of $26 million. Total revenues came from sales of two approved drugs — Rhopressa and Rocklatan.
Quarter in Detail
Wholesaler shipments totaled 306,000 bottles for the quarter under review, up from 257,000 bottles in the previous quarter.
We remind investors that the company’s first drug, Rhopressa (netarsudil ophthalmic solution), has been approved for the reduction of elevated intraocular pressure (“IOP”) in patients with open-angle glaucoma or ocular hypertension. Aerie’s second drug, Rocklatan — a once-daily, quadruple-action, fixed-dose combination of Rhopressa and Pfizer’s Xalatan — has been approved to reduce elevated IOP in patients with open-angle glaucoma or ocular hypertension.
Rhopressa currently has market access for 92% of lives covered under Medicare Part D plans and commercial coverage for 77% of covered lives. Rocklatan has market access for 74% of Medicare Part D lives and an additional 10% of remaining Medicare Part D lives.
Total operating expenses (excluding stock-based compensation expenses) for the reported quarter were $44.9 million compared with $43.8 million in the year-ago period.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
Currently, Aerie has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. Notably, Aerie has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Aerie (AERI) Down 0.9% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Aerie Pharmaceuticals . Shares have lost about 0.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Aerie due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Aerie's Q2 Loss Wider Than Expected, Revenues Beat
Aerie incurred a loss of 67 cents per share for the second quarter, wider than the Zacks Consensus Estimate of a loss of 65 cents but narrower than the year-ago loss of 83 cents.
Revenues came in at $27.2 million, which increased from $18 million in the year-ago quarter and beat the Zacks Consensus Estimate of $26 million. Total revenues came from sales of two approved drugs — Rhopressa and Rocklatan.
Quarter in Detail
Wholesaler shipments totaled 306,000 bottles for the quarter under review, up from 257,000 bottles in the previous quarter.
We remind investors that the company’s first drug, Rhopressa (netarsudil ophthalmic solution), has been approved for the reduction of elevated intraocular pressure (“IOP”) in patients with open-angle glaucoma or ocular hypertension. Aerie’s second drug, Rocklatan — a once-daily, quadruple-action, fixed-dose combination of Rhopressa and Pfizer’s Xalatan — has been approved to reduce elevated IOP in patients with open-angle glaucoma or ocular hypertension.
Rhopressa currently has market access for 92% of lives covered under Medicare Part D plans and commercial coverage for 77% of covered lives. Rocklatan has market access for 74% of Medicare Part D lives and an additional 10% of remaining Medicare Part D lives.
Total operating expenses (excluding stock-based compensation expenses) for the reported quarter were $44.9 million compared with $43.8 million in the year-ago period.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
Currently, Aerie has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. Notably, Aerie has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.