Aclaris Therapeutics (NASDAQ:ACRS) Coverage Initiated at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set an “overweight” rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on the company. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, December 23rd. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price 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 increased their target price for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Finally, StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Aclaris Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock opened at $1.55 on Tuesday. Aclaris Therapeutics has a 52-week low of $0.95 and a 52-week high of $5.17. The company has a market capitalization of $167.27 million, a PE ratio of -2.98 and a beta of 0.48. The business’s fifty day moving average is $2.20 and its 200 day moving average is $2.21.

Institutional Trading of Aclaris Therapeutics

Several large investors have recently modified their holdings of ACRS. Adage Capital Partners GP L.L.C. bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $23,876,000. Vivo Capital LLC purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $22,044,000. RA Capital Management L.P. purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $11,573,000. Rock Springs Capital Management LP lifted its holdings in shares of Aclaris Therapeutics by 125.3% during the fourth 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, Janus Henderson Group PLC purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $6,985,000. 98.34% of the stock is owned by 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.