Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Target Price at $11.67

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received an average rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.67.

ACRS has been the topic of several recent research reports. HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, December 23rd. StockNews.com lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Cantor Fitzgerald began coverage on shares of Aclaris Therapeutics in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Scotiabank initiated coverage on shares of Aclaris Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $15.00 price target on the stock.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock opened at $1.53 on Friday. Aclaris Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.17. The company’s 50 day moving average price is $2.05 and its two-hundred day moving average price is $2.24. The company has a market capitalization of $165.12 million, a P/E ratio of -2.94 and a beta of 0.48.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ACRS. Assenagon Asset Management S.A. boosted its stake in Aclaris Therapeutics by 113.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after purchasing an additional 211,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted 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 buying an additional 216,826 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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. acquired a new position in shares of Aclaris Therapeutics in the third quarter valued at about $1,053,000. Finally, Peapod Lane Capital LLC bought a new position in Aclaris Therapeutics during the fourth quarter worth about $1,003,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.