20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Aerie Pharmaceuticals Inc (NASDAQ: AERI) soared higher by more than 50 percent Thursday after the company reported Phase 3 data involving Roclatan which met its primary efficacy endpoint.
In a report, Dr. Elemer Piros of Cantor Fitzgerald suggested that the data was "impeccable" and "rock solid." Shares remain Buy rated with a price target raised to $50 from a previous $44.
Related Link: Aerie Rips 60% After Positive Roclatan Phase 3 Topline Efficacy Results
"When comparing the Phase 3 results with an earlier, smaller trial, the combination drug worked even better than its ingredients," wrote Piros. "Intraocular pressure (IOP) was reduced, on average to 15-16mmHg at all nine time points measured over a 90-day period. The lowering was 1-3mmHg higher than observed with the components, latanoprost and Rhopressa.
"The difference, as disclosed in a slide deck presented, but not in the press release, was statistically significant with a p value of <0.0001 - very robust. The responder analysis revealed that nearly half of Roclatan-treated patients (46%) experienced a very significant >=35% reduction in IOP. Furthermore, one-third achieved IOP levels at or below 14mmHg, while nearly two-thirds (61%) had pressure that was at or below 16mmHg at day 90."
Piros added that Aerie submitted the NDA for Rhopressa, which would be indicated for patients with a baseline IOP of less than or equal to 25mmHg. As such, the second Phase 3 trial readout for Roclatan is expected to be released in the first half of 2017 with a potential NDA submission by the bottom half of next year.
The risk associated with the company's programs have now "decreased meaningfully."
Shares traded recently at $32.80, up 55 percent.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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