Aclaris Therapeutics Inc. (NASDAQ:ACRS) is one of the top penny stocks to buy in investors’ stock portfolio. On May 8, Stifel reiterated a Hold rating on Aclaris Therapeutics Inc. (NASDAQ:ACRS) and increased the price target to $4 from $3.
The price target hike underscores the research firm’s optimism about the company’s multi-targeting approaches and its novel immunology biology. The company has made significant progress in developing best-in-class compounds to address various immunological diseases. For starters, it has delivered positive results in the Phase 1a SAD/MAD trial of bispecific antibody ATI-052.
Aclaris is also anticipating top-line results in ongoing Phase 1b proof-of-concept trials or ATI-052. The candidate therapy continues to show potential in the treatment of various atopic immunologic and respiratory diseases. The company is also pursuing the Lichen Planus Development Strategy for ATI-2138, a Potent and Selective Investigational Inhibitor of ITK and JAK3.
Amid pipeline development, Aclaris generated $2 million in revenue in the first quarter, up from $1.5 million in the prior quarter, driven by higher royalties under the Lilly and Sun Pharma license agreements. However, the company incurred a net loss of $19.8 million, compared with $15.1 million in the same quarter last year.
Aclaris Therapeutics, Inc. is a clinical-stage biopharmaceutical company that discovers, develops, and commercializes innovative drug candidates for immuno-inflammatory diseases and dermatological conditions.
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