Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Price Target at $11.00

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has received an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics to a “strong-buy” rating in a report on Tuesday. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday, November 19th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $3.00 to $13.00 in a research note on Monday, November 18th. Leerink Partners raised 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 report on Tuesday, November 19th. Finally, Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th.

Aclaris Therapeutics Trading Down 1.6 %

Aclaris Therapeutics stock opened at $1.82 on Tuesday. The company has a 50-day moving average price of $2.36 and a 200 day moving average price of $2.17. Aclaris Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.17. The stock has a market cap of $130.00 million, a P/E ratio of -3.50 and a beta of 0.50.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. ExodusPoint Capital Management LP purchased a new position in Aclaris Therapeutics during the 4th quarter valued at about $26,000. Invesco Ltd. acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $28,000. Graham Capital Management L.P. purchased a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $35,000. Commonwealth Equity Services LLC acquired a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $36,000. Finally, Alpine Global Management LLC purchased a new stake in Aclaris Therapeutics during the 4th quarter worth approximately $38,000. Hedge funds and other 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.