Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Cantor Fitzgerald to Overweight Rating

Cantor Fitzgerald upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

Several other research firms also recently commented on ACRS. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.00 to $13.00 in a research note on Monday. 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 research note on Tuesday. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $3.96 on Wednesday. The business has a fifty day moving average price of $1.60 and a 200-day moving average price of $1.34. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $5.17. The stock has a market capitalization of $282.86 million, a price-to-earnings ratio of -7.23 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $4.35 million for the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In other news, Director Anand Mehra acquired 666,666 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average price of $2.25 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is owned by company insiders.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ACRS. BNP Paribas Financial Markets increased its holdings in Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after buying an additional 23,747 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 13,461 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares in the last quarter. Vanguard Group Inc. raised its holdings in Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after purchasing an additional 207,418 shares during the period. Finally, Trium Capital LLP purchased a new position in Aclaris Therapeutics during the second quarter worth approximately $2,081,000. 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.