ACRS - Why Aclaris Therapeutics Stock Soared Nearly 6% on Thursday
2023-09-14 19:03:25 ET
Aclaris Therapeutics (NASDAQ: ACRS) had a fine Thursday, at least as far as its stock was concerned. The biotech's shares enjoyed a nearly 6% lift in price, thanks largely to a generous price-target boost from an analyst.
That professional is Stifel Financial 's Alex Thompson, who upped his fair-value assessment of Aclaris to $20 per share. That's exactly 25% higher than his previous estimation of $16. In making the change, Thompson maintained his buy recommendation on the biotech .
It wasn't immediately clear why Thompson made his move, but it isn't hard to be bullish on Aclaris' future these days. The summer months saw the company move forward in the development of its leading investigational drug, zunsemetinib , which targets moderate to severe cases of rheumatoid and psoriatic arthritis.
For further details see:
Why Aclaris Therapeutics Stock Soared Nearly 6% on Thursday