Piper Sandler Begins Coverage on Aclaris Therapeutics (NASDAQ:ACRS)

Piper Sandler started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $6.00 price target on the biotechnology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 282.17% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ACRS. Scotiabank decreased their target price on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. Wedbush restated an “outperform” rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a research note on Monday, June 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.71.

Aclaris Therapeutics Stock Performance

NASDAQ ACRS opened at $1.57 on Thursday. Aclaris Therapeutics has a 52-week low of $1.05 and a 52-week high of $5.17. The business has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.76. The stock has a market cap of $170.00 million, a price-to-earnings ratio of -1.13 and a beta of 0.38.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 30.73% and a negative net margin of 732.42%. On average, analysts predict that Aclaris Therapeutics will post -0.82 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several large investors have recently modified their holdings of the company. ExodusPoint Capital Management LP bought a new stake in Aclaris Therapeutics in the fourth quarter worth approximately $26,000. Invesco Ltd. bought a new position in Aclaris Therapeutics in the fourth quarter worth approximately $28,000. Graham Capital Management L.P. acquired a new stake in Aclaris Therapeutics in the 4th quarter valued at $35,000. Commonwealth Equity Services LLC bought a new stake in Aclaris Therapeutics during the 4th quarter valued at $36,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Aclaris Therapeutics in the 4th quarter worth about $38,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.