Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Leerink Partnrs to “Strong-Buy” Rating

Leerink Partnrs upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Aclaris Therapeutics’ Q4 2024 earnings at ($0.54) EPS, FY2024 earnings at ($1.13) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.74) EPS and FY2028 earnings at ($0.98) EPS.

Other analysts also recently issued research reports about the stock. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $2.00 to $7.00 in a research report on Tuesday. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $7.00 in a report on Tuesday. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. BTIG Research raised shares of 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. Finally, Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.00 to $13.00 in a report on Monday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Stock Up 9.1 %

ACRS opened at $4.32 on Tuesday. The firm has a market capitalization of $308.58 million, a P/E ratio of -8.71 and a beta of 0.10. The firm’s 50 day moving average is $1.65 and its 200-day moving average is $1.36. Aclaris Therapeutics has a 52-week low of $0.77 and a 52-week high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The company had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. Equities analysts expect that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Anand Mehra bought 666,666 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Aclaris Therapeutics during the third quarter worth $1,053,000. Stonepine Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 27.6% during the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock worth $2,828,000 after purchasing an additional 531,427 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 216,826 shares during the last quarter. Finally, BML Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. 98.34% of the stock is currently owned by 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.