Aerie Pharmaceuticals Inc (NASDAQ:AERI) announced the appointment of Judith J. Robertson as Chief Commercial Officer, reporting to Thomas Mitro, Aerie President and Chief Operating Officer.
Ms. Robertson will be responsible for leading the global commercialization of Aerie’s ophthalmology franchise, and joins Aerie from the Janssen Pharmaceutical Companies of Johnson & Johnson, where she has been the VP of Global Immunology, Ophthalmology and Global Analytics since 2013. Prior to Janssen, she was VP of Global Ophthalmology at Alcon, VP of Global Respiratory at Novartis, and President of Bristol Myers Squibb Canada.
In connection with the hiring of Ms. Robertson as Chief Commercial Officer, she received an award of 70,000 stock options and 18,000 shares of restricted stock awards. The stock options will vest over 4 years, with 25% vesting on the first anniversary of the hire date and the remainder vesting ratably on each of the subsequent 36 monthly anniversaries of the hire date; the restricted stock award will vest over a period of 4 years in four equal annual installments on each annual hire date anniversary. These awards were made outside of Aerie’s stockholder-approved equity incentive plan and was approved by the Company’s independent directors as an inducement material to Ms. Robertson’s entering into employment with the Company in reliance on NASDAQ Listing Rule 5635(c)(4), which requires this public announcement.
“Judy brings a wealth of global commercialization and general management experience to Aerie as we progress into launch mode. We believe her proven skill set will serve us well as we prepare for commercialization of our product candidates,” said Thomas Mitro, President and Chief Operating Officer at Aerie.
Ms. Robertson added, “I am delighted to join Aerie as its first Chief Commercial Officer, and look forward to driving the exciting portfolio of Aerie product candidates to ultimate commercial success.” (Original Source)
Shares of Aerie Pharmaceuticals closed last Friday at $40.05, up $0.50 or +1.26%. AERI has a 1-year high of $43.40 and a 1-year low of $10.82. The stock’s 50-day moving average is $38.11 and its 200-day moving average is $27.59.
On the ratings front, Aerie Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on November 3, H.C. Wainwright analyst Corey Davis reiterated a Buy rating on AERI, with a price target of $66, which represents a potential upside of 65% from where the stock is currently trading. Separately, on the same day, RBC’s Adnan Butt maintained a Buy rating on the stock and has a price target of $54.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Corey Davis and Adnan Butt have a yearly average loss of -4.0% and -3.9% respectively. Davis has a success rate of 36% and is ranked #3903 out of 4283 analysts, while Butt has a success rate of 44% and is ranked #3775.
Overall, 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $55.00 which is 37.3% above where the stock closed last Friday.
Aerie Pharmaceuticals, Inc. is a clinical stage pharmaceutical company, which is focused on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. It product candidates are Rhopressa and Roclatan.