Aclaris stock gets Buy rating reaffirmed by H.C. Wainwright after positive preclinical results

Investing.com - H.C. Wainwright has reiterated a Buy rating and $16.00 price target on Aclaris Therapeutics (NASDAQ:ACRS) following positive preclinical results for its ITK/JAK3 inhibitor ATI-2138. Currently trading at $3.87, ACRS appears undervalued according to InvestingPro Fair Value analysis, despite showing impressive 130% growth over the past six months.

The company reported that ATI-2138 demonstrated rapid, near complete, and sustained hair regrowth in a murine model of severe alopecia areata conducted by Dr. Angela Christiano at Columbia University.

The study showed ATI-2138 outperformed both the control and Pfizer’s ritlecitinib (Litfulo), despite using significantly older mice that are typically more difficult to treat in this model of hair loss.

ATI-2138 induced an accelerated response with near complete regrowth after only four weeks that was sustained through the end of the study, according to the company’s press release.

H.C. Wainwright noted that ATI-2138 is differentiated from other JAK inhibitors due to its dual targeting of ITK and JAK3, which interrupts T cell receptor signaling and regulates T cell expansion, differentiation and activation both upstream and downstream. While ACRS maintains strong liquidity with a 3.92 current ratio, InvestingPro data shows the company is not yet profitable. Access the comprehensive Pro Research Report for deeper insights on Aclaris among 1,400+ top stocks.

In other recent news, Aclaris Therapeutics announced positive preclinical results for its experimental drug ATI-2138, showing promising outcomes in a study for severe alopecia areata. The drug demonstrated rapid and near-complete hair regrowth in a murine model, outperforming another treatment. Additionally, Aclaris has initiated a Phase 1b trial for ATI-052 in patients with atopic dermatitis, focusing on safety and efficacy. The study uses a 3:1 ratio of the drug to placebo and will assess various clinical efficacy measures. Jefferies has reiterated a Buy rating for Aclaris Therapeutics, maintaining a $7 price target, citing initial validation for the bispecific ’052 therapy. The company’s ATI-052 drug also showed positive interim results in a Phase 1a trial, demonstrating a favorable safety profile in healthy adults. Aclaris reported no serious adverse events in this study. Furthermore, Aclaris Therapeutics has been added to the Nasdaq Biotechnology Index, having met the necessary eligibility requirements.

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