Acelyrin price target lowered to $13 from $15 at Wells Fargo

Wells Fargo lowered the firm’s price target on Acelyrin (SLRN) to $13 from $15 and keeps an Overweight rating on the shares. The firm notes izo’s Phase 2b/3 trial in uveitis failed; downside should be limited since there was no value assigned anyway. Wells is removing its izo uveitis contribution from its model as it will not be developed any further.