Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Rating of “Buy” from Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been given an average recommendation of “Buy” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $8.7143.

ACRS has been the topic of several recent research reports. Piper Sandler initiated coverage on Aclaris Therapeutics in a research report on Thursday, July 10th. They set an “overweight” rating and a $6.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a research report on Wednesday, June 25th. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. Finally, Scotiabank lowered their price objective on Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. bought a new position in shares of Aclaris Therapeutics in the fourth quarter worth $11,573,000. Millennium Management LLC increased its position in shares of Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after purchasing an additional 2,175,101 shares during the period. Decheng Capital LLC increased its position in shares of Aclaris Therapeutics by 78.3% in the first quarter. Decheng Capital LLC now owns 4,041,736 shares of the biotechnology company’s stock worth $6,184,000 after purchasing an additional 1,775,069 shares during the period. Janus Henderson Group PLC bought a new position in shares of Aclaris Therapeutics in the fourth quarter worth $6,985,000. Finally, Geode Capital Management LLC increased its position in shares of Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after purchasing an additional 1,282,042 shares during the period. Institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

Shares of Aclaris Therapeutics stock opened at $1.80 on Tuesday. The business has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $1.56. Aclaris Therapeutics has a 1 year low of $1.05 and a 1 year high of $5.17. The company has a market capitalization of $194.99 million, a price-to-earnings ratio of -1.31 and a beta of 0.30.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $1.78 million during the quarter, compared to the consensus estimate of $1.34 million. Aclaris Therapeutics had a negative return on equity of 34.01% and a negative net margin of 802.03%. As a group, equities analysts anticipate that Aclaris Therapeutics will post -0.82 earnings per share for the current fiscal year.

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.