Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Consensus Recommendation of “Buy” by Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average recommendation of “Buy” by the seven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.80.

Several research analysts recently commented on ACRS shares. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Tuesday, November 19th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. Finally, Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $3.00 to $13.00 in a report on Monday, November 18th.

Insiders Place Their Bets

In related news, Director Anand Mehra acquired 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the purchase, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently added to or reduced their stakes in ACRS. Trium Capital LLP purchased a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $2,081,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aclaris Therapeutics during the second quarter worth $119,000. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 63,358 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth $2,120,000. Finally, Assenagon Asset Management S.A. acquired a new position in Aclaris Therapeutics during the 3rd quarter valued at about $214,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Stock Performance

ACRS opened at $3.08 on Thursday. The stock’s 50 day moving average price is $2.66 and its 200-day moving average price is $1.71. Aclaris Therapeutics has a one year low of $0.80 and a one year high of $5.17. The stock has a market cap of $220.01 million, a price-to-earnings ratio of -5.92 and a beta of 0.45.

Aclaris Therapeutics (NASDAQ:ACRS) last announced 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 business had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. As a group, analysts predict that Aclaris Therapeutics will post -0.75 earnings per share 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.