© Reuters. Acelyrin (SLRN) risk/reward ‘skewed to the upside’
ACELYRIN Inc (NASDAQ:) was initiated at Overweight with a $29 price target by Morgan Stanley in a note Tuesday.
Analysts told investors that the company’s late-stage immunology pipeline is addressing large areas of unmet needs.
“Acelyrin’s lead pipeline program is izokibep,” the analysts stated. “PhII data for izokibep suggests strong potential for differentiation in I&I indications with large addressable patient populations, and there are multiple pipeline readouts over the coming 12-18 months to inflect the stock.”
“In an early study in HS, izokibep led to disease resolution that appears competitive vs. currently approved therapy Humira as well as additional molecules in late-stage development.”
The analysts believe SLRN’s risk/reward appears skewed to the upside ahead of Acelyrin’s pipeline readouts.
Meanwhile, at Jefferies, analysts initiated SLRN with a Buy rating and a $31 price target.
“SLRN’s IPO was one of the largest in biotech in last 3 yrs. Despite recent investor focus, we think SLRN’s more than just a HS story,” wrote the analysts. “Notably, 1) Izo could be a good fit in diseases like PsA (we’re mixed on HS differentiation; all co theses have weaknesses) & we don’t see market as ‘all or nothing’ – we model total risk adj PS of ~$1.35B, 2) we see pipeline optionality w/loni (IGF-1R) & ‘517 (c-KIT) + model risk-adj PS of $500M & $100M respectively.”
This story originally appeared on Investing
