Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $8.80 Consensus Price Target from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.80.

ACRS has been the topic of a number of recent analyst reports. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $3.00 to $13.00 in a report on Monday, November 18th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cantor Fitzgerald raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Finally, BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Tuesday, November 19th.

Insiders Place Their Bets

In other Aclaris Therapeutics news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the transaction, the director now owns 710,030 shares of the company’s stock, valued at $1,597,567.50. The trade was a 1,537.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock worth $974,000 after buying an additional 72,309 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Aclaris Therapeutics in the third quarter worth $1,053,000. Stonepine Capital Management LLC increased its position in Aclaris Therapeutics by 27.6% in the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock worth $2,828,000 after buying an additional 531,427 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Aclaris Therapeutics by 187.6% in 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 during the last quarter. Finally, BML Capital Management LLC increased its position in Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after buying an additional 1,261,866 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $3.63 on Friday. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $5.17. The firm has a market cap of $259.29 million, a PE ratio of -6.98 and a beta of 0.10. The business has a fifty day moving average of $1.87 and a 200-day moving average of $1.43.

Aclaris Therapeutics (NASDAQ:ACRS) last announced 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). The business had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. On average, analysts anticipate that Aclaris Therapeutics will post -0.75 EPS for the current fiscal year.

About Aclaris Therapeutics

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.