Aclaris Therapeutics initiated with a Buy at Stifel

Stifel analyst Alex Thompson initiated coverage of Aclaris Therapeutics with a Buy rating and $29 price target. His "bullish stance" on Aclaris is based on the view that Zunsemetinib has the potential to be "the first-in-class MK2 inhibitor across multiple large-market autoimmune indications," including Rheumatoid Arthritis, Psoriatic Arthritis, and Hidradenitis Suppurativa. He likes the set-up into upcoming Phase 2 data in Hidradenitis Suppurativa due in the middle of the first half of 2023, the analyst added.