H.C. Wainwright upgraded Aclaris Therapeutics (ACRS) to Buy from Neutral with a $20 price target after the company entered into an exclusive license agreement with privately-held Biosion. The “transformative” licensing transaction revitalizes the company’s pipeline with renewed focus on biologic candidates, the analyst tells investors in a research note. The firm ascribes a 30% probability of approval to BSI-045B in chronic asthma and a 20% probability of approval to this candidate in atopic dermatitis. It also believes Aclaris’ legacy pipeline programs may generate additional value.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACRS:
- Aclaris Therapeutics files to sell 35.56M shares of common stock for holders
- Biotech Alert: Searches spiking for these stocks today
- Aclaris upgraded at Cantor after deal adds two ‘potential blockbusters’
- Aclaris Therapeutics upgraded to Overweight from Neutral at Cantor Fitzgerald
- Walmart higher, Lowe’s lower after earnings: Morning Buzz