Aclaris Therapeutics (NASDAQ:ACRS) Raised to Overweight at Piper Sandler

Piper Sandler upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to an overweight rating in a research note released on Monday morning, MarketBeat.com reports. Piper Sandler currently has $13.00 price objective on the biotechnology company’s stock, up from their prior price objective of $3.00.

Other research analysts have also issued reports about the stock. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Trading Down 13.7 %

ACRS opened at $3.96 on Monday. The company has a fifty day simple moving average of $1.60 and a 200 day simple moving average of $1.34. The firm has a market cap of $282.86 million, a price-to-earnings ratio of -7.23 and a beta of 0.10. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $5.17.

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

Insider Activity

In other Aclaris Therapeutics news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the acquisition, the director now owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. This represents a 1,537.37 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Aclaris Therapeutics in the first quarter valued at approximately $39,000. SG Americas Securities LLC grew its holdings in Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after buying an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. increased its position in Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Aclaris Therapeutics during the 2nd quarter valued at $119,000. Finally, Assenagon Asset Management S.A. acquired a new position in Aclaris Therapeutics during the 3rd quarter worth $214,000. 98.34% of the stock is currently owned by institutional investors.

About Aclaris Therapeutics

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.