Stock Alert: Aerie Pharma (AERI) Catches Eye

(RTTNews) - Shares of Aerie Pharmaceuticals Inc. (AERI), a revenue-generating ophthalmic pharmaceutical company, are up more than 10%, following better-than-expected revenue for the fourth quarter and full-year ended December 31, 2019.

In the U.S., the Company markets Rocklatan and Rhopressa for the treatment of glaucoma or ocular hypertension.

The net product revenue from the two marketed products in the fourth quarter was $24.66 million compared to $14.45 million in the year-ago quarter. Wall Street analysts were expecting revenue of $19.46 million.

The full-year 2019 net product revenue soared to $69.89 million from $24.18 million in 2018, topping analysts' expectations of $64.73 million.

Rocklatan, under the brand name Roclanda, is under review by the European Medicines Agency. An opinion from the EMA's Committee for Medicinal Products for Human Use on the Marketing Authorization Application for Roclanda is expected in late 2020.

Rhopressa, under the brand name Rhokiinsa, was approved in Europe last November.

Looking ahead, Aerie currently expects full-year 2020 net revenues to be in the range of $100 to $110 million on a U.S. GAAP basis for Rhopressa and Rocklatan combined.

AERI has traded in a range of $17.15 to $50.10 in the last 1 year. The stock is currently up 10.46% at $21.98.