Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Upgraded by Cantor Fitzgerald

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by investment analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

ACRS has been the topic of a number of other research reports. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday. Piper Sandler raised 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. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock opened at $4.32 on Wednesday. Aclaris Therapeutics has a 52-week low of $0.77 and a 52-week high of $5.17. The company has a market capitalization of $308.58 million, a PE ratio of -8.71 and a beta of 0.10. The business’s fifty day moving average is $1.65 and its 200 day moving average is $1.36.

Aclaris Therapeutics (NASDAQ:ACRS) last released its 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 net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. On average, sell-side analysts forecast that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

In related news, Director Anand Mehra acquired 666,666 shares of Aclaris Therapeutics stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the purchase, the director now directly owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of Aclaris Therapeutics by 69.5% during the first 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 in the last quarter. Russell Investments Group Ltd. grew its stake in Aclaris Therapeutics by 5,265.1% during the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Aclaris Therapeutics in the 2nd quarter valued at $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 boosted its holdings in shares of Aclaris Therapeutics by 10.9% during the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after purchasing an additional 23,747 shares during the last quarter. Hedge funds and other institutional investors 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.