Aclaris Therapeutics (NASDAQ:ACRS) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note published on Tuesday morning,Benzinga reports. Wedbush currently has a $8.00 price target on the biotechnology company’s stock.

Several other brokerages also recently commented on ACRS. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Craig Hallum assumed coverage on Aclaris Therapeutics in a report on Friday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday. Finally, Wall Street Zen downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Aclaris Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $9.80.

Aclaris Therapeutics Stock Up 7.4%

Aclaris Therapeutics stock opened at $3.75 on Tuesday. The company has a market capitalization of $452.25 million, a PE ratio of -7.08 and a beta of 0.88. Aclaris Therapeutics has a 12-month low of $1.05 and a 12-month high of $4.89. The firm’s fifty day moving average is $3.50 and its 200 day moving average is $2.85.

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

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $323,000. Invesco Ltd. increased its holdings in Aclaris Therapeutics by 29.2% during the 4th quarter. Invesco Ltd. now owns 209,903 shares of the biotechnology company’s stock worth $632,000 after purchasing an additional 47,440 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Aclaris Therapeutics by 76.6% in the fourth quarter. XTX Topco Ltd now owns 112,912 shares of the biotechnology company’s stock worth $340,000 after purchasing an additional 48,987 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $796,000. Finally, Susquehanna Portfolio Strategies LLC bought a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $120,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.