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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has received an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $11.00.

A number of equities research analysts recently commented on ACRS shares. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. BTIG Research upgraded 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. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler upgraded 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 note on Monday, November 18th.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra acquired 666,666 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. The trade was 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 link. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors have recently modified their holdings of ACRS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics in the second quarter worth about $119,000. Millennium Management LLC boosted its position in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after purchasing an additional 63,358 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $2,120,000. Trium Capital LLP increased its holdings in shares of Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics in the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Up 2.4 %

Shares of NASDAQ:ACRS opened at $2.57 on Monday. The company has a market capitalization of $183.58 million, a PE ratio of -4.94 and a beta of 0.54. Aclaris Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.17. The business’s fifty day simple moving average is $3.09 and its 200-day simple moving average is $1.94.

Aclaris Therapeutics (NASDAQ:ACRS) last announced 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 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 -0.81 EPS for the current 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.