We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Aerie (AERI) Q2 Earnings Miss Estimates, Revenues Rise Y/Y
Read MoreHide Full Article
Aerie Pharmaceuticals Inc. reported a loss of 83 cents per share in second-quarter 2020, wider than the Zacks Consensus Estimate of a loss of 79 cents. The loss in the year-ago quarter was 80 cents per share.
Revenues came in at $18 million, which increased from $15.8 million in the year-ago quarter but missed the Zacks Consensus Estimate of $19 million.
Shares of the company have slumped 50% year to date compared with the industry’s decline of 4.2%.
Total revenues came from sales of two approved drugs —Rhopressa and Rocklatan.
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.
Quarter in Detail
Wholesaler shipments totaled 232,000 bottles,which were slightly higher than the first quarter of 2020.
The second-quarter volumes slightly exceeded those of the first quarter, benefiting from the high levels of coverage the company gained, particularly in Medicare Part D.
Total operating expenses (excluding stock-based compensation expenses) in the quarter were $43.8 million, down from the year-ago quarter’s $50.5 million.
Pipeline Update
Aerie has filed a Prior Approval Supplement with the FDA to obtain approval to manufacture Rhopressa in Aerie’s manufacturing plant in Athlone, Ireland, for commercial distribution in the U.S. market.
Aerie plans to initiate a phase IIb study,COMET-1, for its dry eye candidate, AR-15512, which will be powered as a phase III clinical trial, in the fourth quarter of 2020 after the completion of remaining preclinical activities.
Aerie expects an opinion from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use on the marketing authorization application (MAA) for Roclanda (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% (marketed as Rocklatanin the United States) in the fourth quarter of 2020.
Top-line data from the Rocklatan Mercury 3 phase III study in Europe areexpected in the third quarter of 2020, the results of which will help determine commercial prospects in the region.
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year. These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
Aerie (AERI) Q2 Earnings Miss Estimates, Revenues Rise Y/Y
Aerie Pharmaceuticals Inc. reported a loss of 83 cents per share in second-quarter 2020, wider than the Zacks Consensus Estimate of a loss of 79 cents. The loss in the year-ago quarter was 80 cents per share.
Revenues came in at $18 million, which increased from $15.8 million in the year-ago quarter but missed the Zacks Consensus Estimate of $19 million.
Shares of the company have slumped 50% year to date compared with the industry’s decline of 4.2%.
Total revenues came from sales of two approved drugs —Rhopressa and Rocklatan.
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.
Quarter in Detail
Wholesaler shipments totaled 232,000 bottles,which were slightly higher than the first quarter of 2020.
The second-quarter volumes slightly exceeded those of the first quarter, benefiting from the high levels of coverage the company gained, particularly in Medicare Part D.
Total operating expenses (excluding stock-based compensation expenses) in the quarter were $43.8 million, down from the year-ago quarter’s $50.5 million.
Pipeline Update
Aerie has filed a Prior Approval Supplement with the FDA to obtain approval to manufacture Rhopressa in Aerie’s manufacturing plant in Athlone, Ireland, for commercial distribution in the U.S. market.
Aerie plans to initiate a phase IIb study,COMET-1, for its dry eye candidate, AR-15512, which will be powered as a phase III clinical trial, in the fourth quarter of 2020 after the completion of remaining preclinical activities.
Aerie expects an opinion from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use on the marketing authorization application (MAA) for Roclanda (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% (marketed as Rocklatanin the United States) in the fourth quarter of 2020.
Top-line data from the Rocklatan Mercury 3 phase III study in Europe areexpected in the third quarter of 2020, the results of which will help determine commercial prospects in the region.
Zacks Rank & Stocks to Consider
Aerie currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) , AC IMMUNE SA. (ACIU - Free Report) and Alimera Sciences Inc. (ALIM - Free Report) . While Emergent sportsa Zacks Rank #1 (Strong Buy), AC IMMUNE and Alimera carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $2.85 to $5.60 for 2020 and from $3.35 to $6.67 for 2021 over the past 60 days.
AC IMMUNE’s loss per share estimates have narrowed from 92 cents to 90 cents for 2020 over the past 60 days.
Alimera’s loss per share estimates have narrowed from $2.33 to $1.31 for 2020 and from 63 cents to 52 cents for 2021 over the past 60 days.
Aerie Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Aerie Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Aerie Pharmaceuticals, Inc. Quote
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year. These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>