Aclaris Therapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Aclaris Therapeutics to Neutral from Buy without a price target. The ATI-1777 trial results do not appear to indicate a commercially exciting profile, the analyst tells investors in a research note. While the trial met its primary endpoint with statistical significance, the fact that the once-daily treatment failed to achieve statistically superior efficacy versus placebo and the relatively small difference on the primary endpoint for the twice-daily treatment versus placebo collectively indicate a profile that does not appear commercially attractive, particularly given the nature of the current atopic dermatitis competitive landscape, the analyst tells investors in a research note.