Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Recommendation of “Buy” from Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received an average rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $11.00.

A number of analysts have commented on the stock. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, 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.

Insider Transactions at Aclaris Therapeutics

In other news, Director Anand Mehra bought 666,666 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now directly owns 710,030 shares in the company, valued at $1,597,567.50. This represents a 1,537.37 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently made changes to their positions in the company. Trium Capital LLP grew its position in Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after purchasing an additional 20,940 shares in the last quarter. Millennium Management LLC boosted its position in shares of Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after buying an additional 63,358 shares during the period. Geode Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 9.3% during the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after buying an additional 72,309 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Aclaris Therapeutics during the second quarter valued at $119,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Aclaris Therapeutics in the 3rd quarter worth about $214,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

ACRS opened at $2.89 on Thursday. The stock’s 50 day moving average price is $2.72 and its 200 day moving average price is $1.74. The stock has a market cap of $206.44 million, a P/E ratio of -5.56 and a beta of 0.44. Aclaris Therapeutics has a 12 month low of $0.86 and a 12 month 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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. Equities analysts anticipate that Aclaris Therapeutics will post -0.75 EPS for the current year.

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.