Aclaris Therapeutics (NASDAQ:ACRS) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a report published on Friday,Benzinga reports. The firm issued a sector outperform rating and a $15.00 price target on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on ACRS. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. Cantor Fitzgerald raised shares of Aclaris Therapeutics to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $3.00 to $13.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $11.67.

Aclaris Therapeutics Stock Up 0.5 %

NASDAQ:ACRS opened at $1.83 on Friday. The company has a fifty day moving average of $2.34 and a 200 day moving average of $2.19. The firm has a market capitalization of $197.49 million, a P/E ratio of -3.52 and a beta of 0.48. Aclaris Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.17.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BML Capital Management LLC grew its position in shares of Aclaris Therapeutics by 9.7% in the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after buying an additional 1,261,866 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Aclaris Therapeutics during the 4th quarter valued at about $23,876,000. Vivo Capital LLC purchased a new stake in Aclaris Therapeutics during the 4th quarter valued at about $22,044,000. Rock Springs Capital Management LP grew its position in Aclaris Therapeutics by 125.3% during the 4th quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company’s stock valued at $15,387,000 after purchasing an additional 3,450,814 shares during the last quarter. Finally, RA Capital Management L.P. purchased a new stake in Aclaris Therapeutics during the 4th quarter valued at about $11,573,000. 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.