Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Price Target at $9.80

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.80.

A number of research firms have recently issued reports on ACRS. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research report on Wednesday, January 28th. Craig Hallum started coverage on Aclaris Therapeutics in a report on Friday, January 30th. They set a “buy” rating and a $10.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th.

Institutional Trading of Aclaris Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ACRS. Invesco Ltd. increased its position in Aclaris Therapeutics by 409.0% during the 1st quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 45,864 shares in the last quarter. Millennium Management LLC grew its stake 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 acquiring an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 worth $851,000 after purchasing an additional 127,366 shares during the last quarter. Acadian Asset Management LLC increased its stake in Aclaris Therapeutics by 10.9% in the second quarter. Acadian Asset Management LLC now owns 2,433,850 shares of the biotechnology company’s stock valued at $3,453,000 after purchasing an additional 238,659 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Aclaris Therapeutics in the 2nd quarter worth about $26,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Aclaris Therapeutics Stock Up 5.6%

NASDAQ:ACRS opened at $3.74 on Friday. The firm’s fifty day simple moving average is $3.33 and its 200-day simple moving average is $2.73. The stock has a market cap of $451.04 million, a PE ratio of -7.06 and a beta of 0.88. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. Equities analysts anticipate that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Aclaris Therapeutics Company Profile

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.