Stifel Reiterates Hold Rating on Aclaris Therapeutis (ACRS)

Stifel analyst Alex Thompson reiterated a Hold rating and $3.00 price target on Aclaris Therapeutis (NASDAQ: ACRS)

The analyst comments "Aclaris announced a licensing agreement with Biosion to acquire ex-China rights to a clinical stage TSLP mAb (BSI-045B) and a preclinical TSLPxIL-4R bispecific (BSI-502). The broader TSLP-targeted space has seen meaningful recent focus with expansion beyond asthma (e.g., Tezepelumab in COPD). BSI-045B data from a small open label US PoC study suggests a potentially competitive signal in Atopic Dermatitis which the company attributed to BSI-045B's improved potency to TSLP. Looking ahead, Biosion's partner is currently running Ph2 studies of BSI-045B in Severe Asthma and Chronic Rhinosinusitis with Nasal Polyps in China. Meanwhile, bi-specifics have also seen significant strategic investment--the Proteologix deal from JNJ featured an IL-13xTSLP bi-specific. BSI-502 is currently in IND-enabling tox studies. While mechanistically this combination is intriguing, with supportive preclinical data, we think the degree of clinical synergy remains the key question for BSI-502 and bi-specifics in I&I broadly. Finally, ACRS also announced a concurrent $80MM financing."

For an analyst ratings summary and ratings history on Aclaris Therapeutis click here. For more ratings news on Aclaris Therapeutis click here.

Shares of Aclaris Therapeutis closed at $2.05 yesterday.

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