Morgan Stanley analyst Vikram Purohit raised the firm’s price target on Acelyrin (SLRN) to $39 from $29 and keeps an Overweight rating on the shares ahead of updated Phase II data for izokibep in hidradenitis suppurativa, or HS, that is expected in “the coming weeks.” The risk/reward “appears skewed to the upside heading into the data,” contends the firm, which sees the potential for a 25% or greater move based on an efficacy profile in line with, or stronger than, a recent data set from competitor MoonLake Therapeutics (MLTX) along with clean safety data.
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