Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $11.00 Consensus Price Target from Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have earned a consensus rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.00.

ACRS has been the subject of several recent research reports. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Tuesday, November 19th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. Finally, HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, December 23rd.

Insider Activity at Aclaris Therapeutics

In other news, Director Anand Mehra purchased 666,666 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Aclaris Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics in the second quarter worth about $2,120,000. BML Capital Management LLC boosted its stake in shares of Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after buying an additional 1,261,866 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Aclaris Therapeutics in the third quarter worth about $1,053,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Aclaris Therapeutics by 187.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after buying an additional 216,826 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Aclaris Therapeutics by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock worth $985,000 after buying an additional 211,585 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Up 0.4 %

Shares of ACRS stock opened at $2.51 on Monday. The stock has a market capitalization of $179.29 million, a price-to-earnings ratio of -4.83 and a beta of 0.54. Aclaris Therapeutics has a twelve month low of $0.95 and a twelve month high of $5.17. The stock has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $1.91.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Research analysts predict that Aclaris Therapeutics will post -0.75 EPS for the current fiscal year.

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.