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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average rating of “Buy” by the seven analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.80.

Several research firms have weighed in on ACRS. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, November 19th. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Finally, Cantor Fitzgerald upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 20th.

Insider Activity

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

Institutional Trading of Aclaris Therapeutics

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 13,461 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $119,000. Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics during the 3rd quarter worth approximately $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Aclaris Therapeutics by 187.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after acquiring an additional 216,826 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Up 5.2 %

Shares of NASDAQ ACRS opened at $3.82 on Friday. The firm has a market capitalization of $272.86 million, a PE ratio of -7.35 and a beta of 0.10. The firm’s 50-day moving average is $1.98 and its 200-day moving average is $1.47. Aclaris Therapeutics has a 1 year low of $0.80 and a 1 year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS 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 analyst estimates of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. As a group, equities research analysts anticipate 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.