Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $8.71 Average Price Target from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.7143.

Several equities research analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $8.00 price target on shares of Aclaris Therapeutics in a report on Monday, June 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aclaris Therapeutics in a report on Tuesday. Piper Sandler assumed coverage on Aclaris Therapeutics in a report on Thursday, July 10th. They set an “overweight” rating and a $6.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, June 25th.

Institutional Investors Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in Aclaris Therapeutics by 111.0% in the 1st 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 last quarter. Decheng Capital LLC lifted its holdings in Aclaris Therapeutics by 78.3% in the 1st 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 last quarter. Geode Capital Management LLC lifted its holdings in Aclaris Therapeutics by 108.4% in the 2nd 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 last quarter. Acadian Asset Management LLC lifted its holdings in Aclaris Therapeutics by 10.9% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,850 shares of the biotechnology company’s stock worth $3,453,000 after purchasing an additional 238,659 shares during the last quarter. Finally, Palo Alto Investors LP lifted its holdings in Aclaris Therapeutics by 36.2% in the 1st quarter. Palo Alto Investors LP now owns 776,028 shares of the biotechnology company’s stock worth $1,187,000 after purchasing an additional 206,196 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Aclaris Therapeutics Trading Down 7.3%

Shares of NASDAQ ACRS opened at $1.90 on Wednesday. Aclaris Therapeutics has a one year low of $1.05 and a one year high of $5.17. The firm has a market capitalization of $205.83 million, a PE ratio of -1.39 and a beta of 0.26. The business has a 50-day moving average price of $1.89 and a two-hundred day moving average price of $1.57.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm had revenue of $1.78 million during the quarter, compared to analyst estimates of $1.34 million. Aclaris Therapeutics had a negative return on equity of 34.01% and a negative net margin of 802.03%. Research analysts anticipate that Aclaris Therapeutics will post -0.82 EPS for the current 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.