Wedbush bullish on Aclaris Therapeutics, initiates with an Outperform

As previously reported, Wedbush initiated coverage of Aclaris Therapeutics (ACRS) with an Outperform rating and $8 price target The firm notes Aclaris is a clinical-stage biopharmaceutical company developing small molecule kinase inhibitors generated with its KINect drug discovery platform, and in-licensed biologics for immunology and inflammation. A placebo-controlled Phase 2b trial in atopic dermatitis will begin in Q2 2025, with initial data in 2026. Topline results for the Phase 2 trial in AD are expected in June 2025, and Wedbush believes this readout is de-risked based on prior ITK inhibitor results. The firm views both data releases as key catalysts for shares, validating development in the sizeable AD market and drawing partnership interest for dermatology and respiratory expansions. Wedbush sees significant growth potential for Aclaris with two lead candidates offering “pipeline-in-a-product” opportunities following upcoming data readouts.