Aclaris Therapeutics (NASDAQ:ACRS) Upgraded to Buy at HC Wainwright

HC Wainwright upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to a buy rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $20.00 target price on the biotechnology company’s stock.

ACRS has been the topic of several other reports. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $3.00 to $13.00 in a report on Monday, November 18th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, November 19th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $11.00.

Aclaris Therapeutics Price Performance

Shares of NASDAQ:ACRS opened at $2.89 on Monday. The business’s 50 day simple moving average is $2.72 and its 200 day simple moving average is $1.74. Aclaris Therapeutics has a 1 year low of $0.86 and a 1 year high of $5.17. The company has a market capitalization of $206.44 million, a P/E ratio of -5.56 and a beta of 0.44.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business 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%. On average, sell-side analysts anticipate that Aclaris Therapeutics will post -0.75 EPS for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In other news, Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were purchased at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors have recently added to or reduced their stakes in ACRS. BML Capital Management LLC lifted its holdings in Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Millennium Management LLC raised its position in shares of Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after purchasing an additional 63,358 shares during the period. Stonepine Capital Management LLC lifted its stake in shares of Aclaris Therapeutics by 27.6% during the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after buying an additional 531,427 shares in the last quarter. Trium Capital LLP boosted its holdings in Aclaris Therapeutics by 1.1% in the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after buying an additional 20,940 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Aclaris Therapeutics in the 3rd quarter valued at approximately $1,053,000. 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.