Aclaris Therapeutics (NASDAQ:ACRS) Raised to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have $7.00 price objective on the biotechnology company’s stock, up from their prior price objective of $2.00.

Other research analysts have also issued research reports about the company. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Tuesday. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $3.00 to $13.00 in a research report on Monday. Finally, HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

ACRS opened at $4.59 on Tuesday. The stock has a 50-day moving average price of $1.53 and a 200-day moving average price of $1.32. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.17. The stock has a market capitalization of $327.86 million, a P/E ratio of -7.73 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $4.35 million for the quarter, compared to analysts’ expectations 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 research analysts predict that Aclaris Therapeutics will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake 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 worth $41,000 after buying an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Aclaris Therapeutics by 5,265.1% during the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics during the second quarter valued at $119,000. Assenagon Asset Management S.A. purchased a new position in Aclaris Therapeutics during the third quarter valued at $214,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after acquiring an additional 23,747 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other 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.