Aclaris Therapeutics (NASDAQ:ACRS) Upgraded to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to an overweight rating in a report published on Wednesday, Marketbeat reports.

ACRS has been the subject of a number of other reports. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Leerink Partnrs upgraded shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday. BTIG Research upgraded 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. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $7.00 in a research report on Tuesday. Finally, Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.00 to $13.00 in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $3.80 on Wednesday. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $5.17. The firm has a market cap of $271.44 million, a PE ratio of -7.31 and a beta of 0.10. The firm’s 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.39.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (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 firm had revenue of $4.35 million for the quarter, compared to analysts’ expectations of $8.31 million. Equities analysts anticipate that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In related news, Director Anand Mehra acquired 666,666 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now owns 710,030 shares in the company, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACRS. SG Americas Securities LLC raised its position in Aclaris Therapeutics by 69.5% in the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of 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 worth $78,000 after buying an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $119,000. Assenagon Asset Management S.A. bought a new position in shares of Aclaris Therapeutics during the 3rd quarter worth approximately $214,000. Finally, BNP Paribas Financial Markets grew its position 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 period. 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.