Analyst Thomas Smith of Leerink Partners reiterated a Buy rating on Aclaris Therapeutics (ACRS – Research Report), with a price target of $7.00.
Thomas Smith has given his Buy rating due to a combination of factors related to Aclaris Therapeutics’ recent developments and financial outlook. The company has initiated clinical trial activities for bosakitug, an anti-TSLP antibody, in atopic dermatitis, with plans to start enrollment in the first half of 2025. Additionally, their partner in China is expected to deliver data from two Phase 2 studies on bosakitug for severe asthma and chronic rhinosinusitis with nasal polyps, which could provide valuable insights for future pipeline strategies.
Moreover, Aclaris is preparing to file an IND for ATI-052 and advance it into a Phase 1 trial, while also expecting results from a Phase 2a trial of ATI-2138 in atopic dermatitis. These developments suggest a robust pipeline with multiple catalysts. Financially, the company reported a net loss but maintains a strong cash position expected to support operations into 2028, indicating a stable financial runway. These elements collectively underpin Thomas Smith’s optimistic outlook and Buy rating for Aclaris Therapeutics.
According to TipRanks, Smith is a top 100 analyst with an average return of 35.8% and a 48.45% success rate. Smith covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, Argenx Se, and Celldex.
In another report released on February 18, Piper Sandler also maintained a Buy rating on the stock with a $13.00 price target.