Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Buy at BTIG Research

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports. The brokerage currently has a $8.00 price objective on the biotechnology company’s stock. BTIG Research’s price target would indicate a potential upside of 154.78% from the stock’s previous close.

Several other analysts have also recently commented on the stock. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $3.00 to $13.00 in a research note on Monday. Finally, StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Aclaris Therapeutics Trading Up 53.2 %

Shares of ACRS stock opened at $3.14 on Tuesday. The stock has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $1.32. The company has a market cap of $224.29 million, a price-to-earnings ratio of -6.04 and a beta of 0.10. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The business had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. On average, equities analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its position in shares of Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics in the second quarter valued at $119,000. Assenagon Asset Management S.A. purchased a new stake in shares of Aclaris Therapeutics in the third quarter valued at $214,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Aclaris Therapeutics by 10.9% during the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after acquiring an additional 23,747 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.