Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Aclaris Therapeutics’ Q4 2024 earnings at ($0.54) EPS, FY2024 earnings at ($1.13) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.74) EPS and FY2028 earnings at ($0.98) EPS.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $2.00 to $7.00 in a report on Tuesday. Two research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $4.32 on Tuesday. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $5.17. The stock has a market cap of $308.58 million, a PE ratio of -8.71 and a beta of 0.10. The firm has a 50-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 data 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 net margin of 136.65% and a negative return on equity of 40.26%. 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 expect that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra acquired 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the transaction, the director now directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position 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 in the last quarter. Russell Investments Group Ltd. lifted its holdings 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 purchasing an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics in the 2nd quarter valued at about $119,000. Assenagon Asset Management S.A. purchased a new position in Aclaris Therapeutics in the 3rd quarter valued at about $214,000. Finally, BNP Paribas Financial Markets lifted its holdings in Aclaris Therapeutics by 10.9% in the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after purchasing an additional 23,747 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other 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.