Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $11.00 Average Target Price from Brokerages

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

ACRS has been the topic of several recent analyst reports. 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 objective on the stock in a research report on Tuesday, November 19th. Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.00 to $13.00 in a research report on Monday, November 18th. Finally, Cantor Fitzgerald raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th.

Insiders Place Their Bets

In related news, Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now owns 710,030 shares in the company, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics during the 2nd quarter valued at $119,000. Assenagon Asset Management S.A. purchased a new position in Aclaris Therapeutics during the 3rd quarter valued at $214,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Aclaris Therapeutics by 187.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after acquiring an additional 216,826 shares during the period. Geode Capital Management LLC boosted its holdings in Aclaris Therapeutics by 9.3% during the 3rd 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. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Aclaris Therapeutics during the 3rd quarter valued at $1,053,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Up 0.4 %

ACRS opened at $2.51 on Monday. The stock has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $1.91. The company has a market cap of $179.29 million, a price-to-earnings ratio of -4.83 and a beta of 0.54. Aclaris Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly 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). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. On average, analysts predict 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.