Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Leerink Partners

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities researchers at Leerink Partners from a “market perform” rating to an “outperform” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $7.00 price target on the biotechnology company’s stock, up from their previous price target of $2.00. Leerink Partners’ price objective would suggest a potential upside of 122.93% from the stock’s previous close.

Several other equities research analysts also recently issued reports on ACRS. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.00 to $7.00 in a research note on Tuesday. BTIG Research raised 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. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.00 to $13.00 in a report on Monday. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. Finally, HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $8.80.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $3.14 on Tuesday. The firm has a market cap of $224.29 million, a PE ratio of -6.04 and a beta of 0.10. The firm’s 50 day moving average price is $1.53 and its 200 day moving average price is $1.32. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results 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 analyst estimates of $8.31 million. On average, sell-side analysts anticipate that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACRS. Stonepine Capital Management LLC bought a new position in shares of Aclaris Therapeutics in the second quarter worth $2,120,000. Trium Capital LLP acquired a new stake in Aclaris Therapeutics in the second quarter valued at about $2,081,000. BML Capital Management LLC boosted its stake in Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after buying an additional 1,261,866 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Aclaris Therapeutics during the third quarter valued at about $1,053,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 216,826 shares in the last quarter. 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.