Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Outperform at Leerink Partners

Leerink Partners upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $7.00 price objective on the biotechnology company’s stock, up from their previous price objective of $2.00.

Several other research analysts have also issued reports on ACRS. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $3.00 to $13.00 in a research report on Monday. Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Tuesday. Finally, HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

Shares of ACRS stock opened at $4.59 on Tuesday. The firm has a market capitalization of $327.86 million, a price-to-earnings ratio of -7.73 and a beta of 0.10. The business’s 50-day moving average price is $1.53 and its 200-day moving average price is $1.32. Aclaris Therapeutics has a 12 month low of $0.77 and a 12 month high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The business had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. On average, sell-side analysts predict that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. BML Capital Management LLC grew its position in shares of Aclaris Therapeutics by 9.7% during the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after buying an additional 1,261,866 shares during the period. Vanguard Group Inc. grew its holdings in Aclaris Therapeutics by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after purchasing an additional 207,418 shares during the period. Millennium Management LLC increased its stake in Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after purchasing an additional 63,358 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 27.6% during the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after purchasing an additional 531,427 shares during the period. Finally, Trium Capital LLP boosted its position in shares of Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after purchasing an additional 20,940 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.