Despite Trial Setback For Acelyrin's Lead Program, Analyst Shows Optimism
Portfolio Pulse from Vandana Singh
Acelyrin Inc's lead program, izokibep, failed to meet the primary endpoint in a Phase 2b/3 trial for Hidradenitis Suppurativa (HS). Despite this, HC Wainwright analyst Emily Bodnar remains optimistic about the second Phase 3 study and potential Psoriatic Arthritis (PsA) data in 1Q24. The analyst lowered the price target from $44 to $30 but maintained a Buy rating. Acelyrin's shares are down 56.90%.
September 12, 2023 | 6:57 pm
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NEGATIVE IMPACT
Acelyrin's stock price has dropped significantly following the trial setback. However, the analyst's continued optimism and maintained Buy rating may provide some support.
The failure of the trial is a significant negative event for Acelyrin, leading to a sharp drop in the stock price. However, the analyst's optimism about future trials and maintained Buy rating may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100