Acelyrin price target lowered to $5 from $6 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Acelyrin (SLRN) to $5 from $6 and keeps an Equal Weight rating on the shares. The firm is updating its model to remove uveitis estimates following the company’s recent disclosure that the Phase 1/2 trial of izokibep did not succeed, the analyst tells investors in a research note. Following the removal of uveitis from Acelyrin model, Morgan Stanley’s base case peak sales projection decreases from about $550M to about $500M, the firm added.