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

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

Several analysts recently issued reports on the company. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th.

Aclaris Therapeutics Price Performance

Shares of NASDAQ:ACRS opened at $2.57 on Monday. The company has a market capitalization of $183.58 million, a P/E ratio of -4.94 and a beta of 0.54. Aclaris Therapeutics has a 1-year low of $0.95 and a 1-year high of $5.17. The firm’s 50 day simple moving average is $3.09 and its two-hundred day simple moving average is $1.94.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate 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%. On average, sell-side analysts anticipate that Aclaris Therapeutics will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Anand Mehra acquired 666,666 shares of the business’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 completion of the transaction, the director now directly owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. The trade was a 1,537.37 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently made changes to their positions in the company. Trium Capital LLP lifted its stake in Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after purchasing an additional 20,940 shares during the last quarter. Millennium Management LLC boosted its holdings 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 acquiring an additional 63,358 shares during the period. Geode Capital Management LLC grew its position in Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aclaris Therapeutics in the second quarter worth $119,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Aclaris Therapeutics during the third quarter worth $214,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.