Jefferies Assumes Aclaris Therapeutis (ACRS) at Buy
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Jefferies analyst Roger Song assumes coverage on Aclaris Therapeutis (NASDAQ: ACRS) with a Buy rating and a price target of $32.00 (from $27.00).
The analyst commented, "Aclaris has transformed into precision immunology biotech w/ two lead programs in Ph2 and each w/ blockbuster potential. Lead ATI-450, first-in-class MK2 inhibitor, showed impressive efficacy/safety in Ph2a rheumatoid arthritis, and will have Ph2b data in 1H23. ATI-1777, topical JAK1/3 inhibitor, showed encouraging profile in Ph2a atopic dermatitis and will have Ph2b data in 2H23. We assume coverage at Buy, w/ PT of $32 (vs. prev. 27), driven by '450/'1777."
Shares of Aclaris Therapeutis closed at $15.61 yesterday.
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