Analysts Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Price Target at $8.80

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average recommendation of “Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.80.

A number of research firms have issued reports on ACRS. Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $3.00 to $13.00 in a research note on Monday, November 18th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Finally, Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $2.72 on Thursday. The company has a 50-day simple moving average of $2.72 and a 200-day simple moving average of $1.73. Aclaris Therapeutics has a 12 month low of $0.86 and a 12 month high of $5.17. The company has a market cap of $194.29 million, a PE ratio of -5.23 and a beta of 0.45.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. On average, analysts anticipate that Aclaris Therapeutics will post -0.75 EPS for the current year.

Insiders Place Their Bets

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 company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trium Capital LLP lifted its holdings in shares of Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares in the last quarter. Millennium Management LLC lifted its stake in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after acquiring an additional 63,358 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $974,000 after acquiring an additional 72,309 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics during the 2nd quarter valued at about $119,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics in the 3rd quarter valued at about $214,000. 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.