Analysts Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) PT at $11.67

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.67.

A number of research firms have weighed in on ACRS. StockNews.com downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Cantor Fitzgerald assumed coverage on Aclaris Therapeutics in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Scotiabank began coverage on Aclaris Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 target price for the company. Finally, HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, December 23rd.

Institutional Trading of Aclaris Therapeutics

Institutional investors have recently made changes to their positions in the stock. Jefferies Financial Group Inc. raised its holdings in Aclaris Therapeutics by 253.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 40,700 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 29,200 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of Aclaris Therapeutics in the fourth quarter valued at about $38,000. Velan Capital Investment Management LP bought a new position in shares of Aclaris Therapeutics during the fourth quarter valued at about $67,000. Squarepoint Ops LLC boosted its holdings in shares of Aclaris Therapeutics by 108.3% during the fourth quarter. Squarepoint Ops LLC now owns 292,892 shares of the biotechnology company’s stock worth $726,000 after purchasing an additional 152,312 shares during the period. Finally, Man Group plc bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $1.40 on Friday. Aclaris Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.17. The stock has a market cap of $151.09 million, a P/E ratio of -2.69 and a beta of 0.53. The firm’s fifty day moving average price is $1.97 and its 200-day moving average price is $2.23.

Aclaris Therapeutics Company Profile

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.