Aclaris Therapeutics (NASDAQ:ACRS) Coverage Initiated at Scotiabank

Research analysts at Scotiabank started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a report released on Friday,Benzinga reports. The brokerage set a “sector outperform” rating and a $15.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also recently weighed in on ACRS. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, November 19th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Cantor Fitzgerald raised Aclaris Therapeutics to a “strong-buy” rating in a research report on Tuesday. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $11.67.

Aclaris Therapeutics Price Performance

ACRS stock traded up $0.01 during trading on Friday, reaching $1.83. The company had a trading volume of 1,197,748 shares, compared to its average volume of 768,692. The business has a 50 day moving average of $2.36 and a 200 day moving average of $2.17. The company has a market cap of $130.72 million, a P/E ratio of -3.52 and a beta of 0.50. Aclaris Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ExodusPoint Capital Management LP bought a new stake in Aclaris Therapeutics in the fourth quarter worth about $26,000. Invesco Ltd. purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth approximately $28,000. Graham Capital Management L.P. purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth approximately $35,000. Commonwealth Equity Services LLC bought a new stake in shares of Aclaris Therapeutics during the 4th quarter worth approximately $36,000. Finally, Alpine Global Management LLC purchased a new position in Aclaris Therapeutics during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.