Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at BTIG Research

BTIG Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to a buy rating in a report issued on Tuesday morning, MarketBeat reports. The brokerage currently has $8.00 target price on the biotechnology company’s stock.

A number of other equities analysts also recently commented on ACRS. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $3.00 to $13.00 in a research report on Monday. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Finally, StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Aclaris Therapeutics has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Trading Up 9.1 %

NASDAQ ACRS opened at $4.32 on Tuesday. The stock has a market cap of $308.58 million, a P/E ratio of -8.71 and a beta of 0.10. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.17. The company has a fifty day simple moving average of $1.65 and a two-hundred day simple moving average of $1.36.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share 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 during the quarter, compared to analysts’ expectations of $8.31 million. As a group, sell-side analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Insider Buying and Selling at Aclaris Therapeutics

In related news, Director Anand Mehra bought 666,666 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRS. SG Americas Securities LLC boosted its stake in shares of 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 during the last quarter. Trium Capital LLP increased its stake in Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after acquiring an additional 20,940 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after acquiring an additional 23,747 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Aclaris Therapeutics by 5,265.1% during the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 61,602 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Aclaris Therapeutics by 1.9% during the second 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 during the last quarter. 98.34% of the stock is owned by institutional investors.

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.