Leerink Partnrs Upgrades Aclaris Therapeutics (NASDAQ:ACRS) to Strong-Buy

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Tuesday. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.00 to $7.00 in a report on Tuesday. Finally, Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $3.00 to $13.00 in a research report on Monday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $4.59 on Tuesday. The firm has a market cap of $327.86 million, a price-to-earnings ratio of -8.83 and a beta of 0.10. The firm has a fifty day moving average price of $1.53 and a 200 day moving average price of $1.32. Aclaris Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released 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 company had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. As a group, research analysts predict that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACRS. BNP Paribas Financial Markets boosted its holdings in Aclaris Therapeutics by 10.9% during the 1st 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. SG Americas Securities LLC boosted its stake in shares of Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 13,461 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 61,602 shares during the last quarter. Vanguard Group Inc. increased its stake in Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after buying an additional 207,418 shares during the period. Finally, Trium Capital LLP bought a new stake in Aclaris Therapeutics during the 2nd quarter valued at about $2,081,000. Institutional investors 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.