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

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received a consensus rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.00.

ACRS has been the subject of several recent analyst reports. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. 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, November 19th. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $3.00 to $13.00 in a report on Monday, November 18th.

Aclaris Therapeutics Trading Up 0.4 %

Shares of NASDAQ:ACRS opened at $2.47 on Monday. The company has a 50 day moving average of $3.07 and a 200 day moving average of $1.89. The stock has a market cap of $176.43 million, a P/E ratio of -4.75 and a beta of 0.54. Aclaris Therapeutics has a 12 month low of $0.86 and a 12 month high of $5.17.

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). 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 net margin of 136.65% and a negative return on equity of 40.26%. On average, equities analysts forecast that Aclaris Therapeutics will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at $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 owned by corporate insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently bought and sold shares of the stock. Trium Capital LLP grew its holdings in shares of 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 position 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 buying an additional 63,358 shares during the period. Geode Capital Management LLC grew its holdings 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 worth $974,000 after acquiring an additional 72,309 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics in the second quarter valued at about $119,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Aclaris Therapeutics during the third quarter valued at about $214,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.