Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.80.

ACRS has been the subject of a number of research analyst reports. Craig Hallum assumed coverage on Aclaris Therapeutics in a report on Friday, January 30th. They set a “buy” rating and a $10.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, December 29th.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $3.19 on Tuesday. The firm has a 50-day moving average of $3.24 and a 200-day moving average of $2.51. Aclaris Therapeutics has a one year low of $1.05 and a one year high of $4.89. The company has a market cap of $345.64 million, a PE ratio of -2.31 and a beta of 0.86.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ACRS. Panagora Asset Management Inc. raised its position in shares of Aclaris Therapeutics by 49.6% in the fourth quarter. Panagora Asset Management Inc. now owns 68,190 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 22,605 shares during the period. Barclays PLC lifted its position in Aclaris Therapeutics by 16.2% during the fourth quarter. Barclays PLC now owns 143,414 shares of the biotechnology company’s stock worth $432,000 after acquiring an additional 19,989 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Aclaris Therapeutics by 17.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,604 shares of the biotechnology company’s stock worth $857,000 after acquiring an additional 42,648 shares during the period. State Street Corp grew its position in shares of Aclaris Therapeutics by 35.3% in the fourth quarter. State Street Corp now owns 1,506,403 shares of the biotechnology company’s stock valued at $4,534,000 after purchasing an additional 393,257 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Aclaris Therapeutics by 53.5% in the fourth quarter. Wells Fargo & Company MN now owns 104,465 shares of the biotechnology company’s stock valued at $314,000 after purchasing an additional 36,426 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.