Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Rating of “Buy” from Analysts

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.80.

ACRS has been the subject of several research analyst reports. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, November 19th. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Finally, Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $3.80 on Friday. The company has a market cap of $271.43 million, a P/E ratio of -7.31 and a beta of 0.10. Aclaris Therapeutics has a one year low of $0.77 and a one year high of $5.17. The business’s 50-day simple moving average is $1.77 and its 200 day simple moving average is $1.39.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS 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 return on equity of 40.26% and a negative net margin of 136.65%. Analysts predict that Aclaris Therapeutics will post -0.76 earnings per share for the current year.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the business’s 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 completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. BML Capital Management LLC lifted its holdings in shares of Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Stonepine Capital Management LLC purchased a new stake in Aclaris Therapeutics during the second quarter valued at about $2,120,000. Trium Capital LLP acquired a new position in shares of Aclaris Therapeutics in the second quarter worth about $2,081,000. Russell Investments Group Ltd. raised its holdings 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 acquiring an additional 61,602 shares during the period. Finally, Millennium Management LLC raised its stake in Aclaris Therapeutics by 1.9% during the 2nd 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 during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.