Aclaris Therapeutics price target raised to $20 from $16 at Stifel

Stifel analyst Alex Thompson raised the firm’s price target on Aclaris Therapeutics to $20 from $16 and keeps a Buy rating on the shares. The firm has “gained conviction” that the results of the zunsemetinib in hidradenitis suppurativa, or HS, study published in March actually offers support to the rheumatoid arthritis, or RA, signal and thinks the RA Phase 2a “can stand on its own given the consistency of the clinical and biomarker signals,” the analyst tells investors. Stifel sees potential for a stock move greater than 100% to the upside, balanced against the potential for 70% downside, ahead of the upcoming Phase 2b rheumatoid arthritis readout due in Q4.