Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $11.67 Average Target Price from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $11.67.

ACRS has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Aclaris Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $15.00 price target on the stock. StockNews.com lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Finally, Cantor Fitzgerald began coverage on Aclaris Therapeutics in a report on Tuesday, March 18th. They set an “overweight” rating on the stock.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $1.34 on Wednesday. The firm has a market capitalization of $145.10 million, a P/E ratio of -2.58 and a beta of 0.53. The company has a 50-day simple moving average of $1.56 and a 200-day simple moving average of $2.23. Aclaris Therapeutics has a one year low of $0.95 and a one year high of $5.17.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently made changes to their positions in the business. ExodusPoint Capital Management LP acquired a new position in Aclaris Therapeutics in the fourth quarter worth approximately $26,000. Invesco Ltd. acquired a new position in shares of Aclaris Therapeutics in the 4th quarter worth $28,000. Graham Capital Management L.P. acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter worth $35,000. Commonwealth Equity Services LLC purchased a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at $36,000. Finally, Alpine Global Management LLC acquired a new position in shares of Aclaris Therapeutics in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.