Aclaris Therapeutics initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Corinne Jenkins initiated coverage of Aclaris Therapeutics with a Buy rating and $25 price target, which represents 64% upside potential. The analyst has a positive view on the clinical outlook for the company’s lead drug, zunsemetinib, ahead of proof-of-concept data in rheumatoid arthritis expected in 2023. She also anticipates initial clinical data from Phase 2a studies of zunsemetinib in potential expansion indications in the first half of 2023 "to begin to prove out the drug’s pipeline-in-a-product potential."