Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Price Target at $22.25

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.25.

A number of equities analysts have recently weighed in on ACRS shares. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Monday, August 19th.

Insider Activity

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard bought 150,000 shares of Aclaris Therapeutics stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $1.13 per share, with a total value of $169,500.00. Following the acquisition, the insider now directly owns 11,502,134 shares of the company’s stock, valued at approximately $12,997,411.42. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 1,080,502 shares of company stock worth $1,288,732. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ACRS. Vanguard Group Inc. lifted its stake in shares of Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after purchasing an additional 207,418 shares during the period. Bain Capital Life Sciences Investors LLC increased its stake in Aclaris Therapeutics by 2.9% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 3,500,000 shares of the biotechnology company’s stock valued at $3,675,000 after purchasing an additional 100,000 shares in the last quarter. Millennium Management LLC increased its position in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after buying an additional 63,358 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Aclaris Therapeutics during the 2nd quarter valued at $2,120,000. Finally, Trium Capital LLP purchased a new stake in shares of Aclaris Therapeutics in the second quarter worth approximately $2,081,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Down 0.8 %

Shares of Aclaris Therapeutics stock opened at $1.17 on Tuesday. The firm’s 50-day moving average price is $1.24 and its two-hundred day moving average price is $1.21. Aclaris Therapeutics has a 1-year low of $0.59 and a 1-year high of $8.28. The stock has a market capitalization of $83.38 million, a price-to-earnings ratio of -1.07 and a beta of 0.21.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. Aclaris Therapeutics had a negative return on equity of 53.18% and a negative net margin of 183.28%. The business had revenue of $2.77 million for the quarter, compared to analyst estimates of $1.74 million. As a group, equities research analysts predict that Aclaris Therapeutics will post -0.65 EPS for the current year.

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.