Thomas Smith, an analyst from Leerink Partners, maintained the Buy rating on Aclaris Therapeutics. The associated price target remains the same with $7.00.
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Thomas Smith’s rating is based on several promising developments for Aclaris Therapeutics. The company announced positive topline data from a Phase 2a open-label trial of their oral ITK/JAK3 inhibitor, ATI-2138, in patients with atopic dermatitis. The trial showed competitive efficacy and a generally well-tolerated safety profile, which is crucial for future development in alopecia areata and other indications. The efficacy results were notable, with significant improvements in EASI scores, and the safety profile was clean with mostly mild adverse events and no discontinuations related to the study drug.
Moreover, Aclaris Therapeutics is advancing its pipeline with plans to start a Phase 2 study in alopecia areata by December or early January next year, following the completion of long-term toxicology studies. The company is also working on preclinical development of a next-generation selective ITK inhibitor and two recently in-licensed antibody assets, with significant data expected in the coming years. These developments, along with a potential R&D event in October 2025, contribute to a positive outlook for Aclaris Therapeutics, justifying the Buy rating.
In another report released yesterday, Scotiabank also maintained a Buy rating on the stock with a $9.00 price target.