Piper Sandler upgraded Aclaris Therapeutics (ACRS) to Overweight from Neutral with a price target of $13, up from $3, after the company announced an exclusive license agreement with Biosion for worldwide rights to BSI-045B, a potential best-in-class, clinical-stage, novel anti-TSLP monoclonal antibody, and BSI-502, a potential best-in-class, pre-clinical stage, novel bispecific antibody that is directed against both TSLP and IL4R in what the firm calls “a transformative deal.” The firm thinks the mechanisms and data generated to date are “intriguing enough to indicate ACRS has found some truly differentiated assets,” the analyst tells investors.
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