Acelyrin price target lowered to $12 from $15 at Jefferies

Jefferies analyst Akash Tewari lowered the firm’s price target on Acelyrin (SLRN) to $12 from $15 and keeps a Buy rating on the shares after the company announced it recently identified dosing sequencing errors in izokibep’s ongoing Phase 2b/3 psoriatic arthritis, or PsA, trial involving CRO Fortrea (FTRE). While management highlighted that the overall powering wasn’t impacted, that the first four weeks of dosing weren’t affected, and that there are no additional safety issues related to this error, the firm “conservatively” assumes a two year delay for izokibep in PsA, the analyst tells investors.