Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Buy at BTIG Research

BTIG Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have $8.00 price objective on the biotechnology company’s stock.

Several other brokerages have also weighed in on ACRS. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Piper Sandler upgraded 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aclaris Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

NASDAQ ACRS opened at $4.59 on Tuesday. The business’s 50-day moving average price is $1.53 and its two-hundred day moving average price is $1.32. Aclaris Therapeutics has a 12 month low of $0.77 and a 12 month high of $5.17. The firm has a market capitalization of $327.86 million, a PE ratio of -7.73 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last posted 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). The firm had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. As a group, analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in 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 purchasing an additional 13,461 shares during the period. Russell Investments Group Ltd. increased its stake in Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after buying an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aclaris Therapeutics in the 2nd quarter worth $119,000. Assenagon Asset Management S.A. purchased a new stake in Aclaris Therapeutics in the 3rd quarter worth $214,000. Finally, BNP Paribas Financial Markets increased its stake in Aclaris Therapeutics by 10.9% in the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock worth $299,000 after buying 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.