Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) PT at $10.00

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.00.

ACRS has been the topic of several analyst reports. StockNews.com lowered shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. HC Wainwright restated a “buy” rating and issued a $16.00 price target (down previously from $20.00) on shares of Aclaris Therapeutics in a research note on Wednesday, May 14th. Finally, Scotiabank dropped their price target on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th.

Aclaris Therapeutics Stock Up 3.8%

Shares of NASDAQ ACRS opened at $1.35 on Friday. The firm’s 50-day moving average price is $1.35 and its two-hundred day moving average price is $2.22. Aclaris Therapeutics has a 52-week low of $0.95 and a 52-week high of $5.17. The stock has a market capitalization of $146.18 million, a P/E ratio of -2.60 and a beta of 0.42.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, equities research analysts expect that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of Aclaris Therapeutics by 29.7% during the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after acquiring an additional 127,366 shares during the period. Millennium Management LLC increased its stake in shares of Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after acquiring an additional 2,175,101 shares during the period. Palo Alto Investors LP increased its stake in shares of Aclaris Therapeutics by 36.2% during the first quarter. Palo Alto Investors LP now owns 776,028 shares of the biotechnology company’s stock valued at $1,187,000 after acquiring an additional 206,196 shares during the period. State of Wyoming acquired a new position in shares of Aclaris Therapeutics during the first quarter valued at approximately $72,000. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Aclaris Therapeutics by 223.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 175,900 shares of the biotechnology company’s stock valued at $269,000 after acquiring an additional 121,500 shares during the period. Institutional investors and hedge funds 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.