Aclaris Therapeutis (ACRS) Strong Ph3 Results for A-101 a Significant De-Risking Event; PT to $32 - Jefferies
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Jefferies analyst David Steinberg reiterated a Buy rating and boosted his price target on Aclaris Therapeutis (NASDAQ: ACRS) to $32.00 (from $29.00) after the company announced positive topline Ph3 data for A-101 in the treatment of seborrheic keratosis (SK), a common aesthetic dermatologic condition affecting 83M sufferers in the US.
Steinberg commented, "This is a significant de-risking event for ACRS and should position the co for US and EU regulatory filings in 1Q17/mid-17, respectively. We continue to see A-101 SK as a potential $500M+ peak sales opportunity and think that ACRS fits our M&A thesis."
Shares of Aclaris Therapeutis closed at $23.43 yesterday.
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