Aclaris Therapeutics (ACRS): Trial Delay Will Not Impact Launch Timeline, Raising PT - Jefferies
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Jefferies analyst, David Steinberg, reiterated his Buy rating on shares of Aclaris Therapeutis (NASDAQ: ACRS) after the company reported a Q2 loss of $12.9M (in line with the Jefferies estimate of $12.5M). Both the SK & warts A-101 trials have completed enrollment but topline data for the Ph3 SK program is now expected in Q4 instead of vs Q3, due to an enrollment imbalance issue. This does not change the commercialization timeline which is still on track for 1H18, assuming approval.
The price target of $23 is up from $20 on the 22.5x FY20 EPS of $2.00, discounted at 25% for 2.5 years (vs 3).
Shares of Aclaris Therapeutis closed at $19.14 yesterday.
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