Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Strong-Buy at Cantor Fitzgerald

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, December 23rd. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $3.00 to $13.00 in a report on Monday, November 18th. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, StockNews.com downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Aclaris Therapeutics has a consensus rating of “Buy” and an average price target of $11.00.

Aclaris Therapeutics Stock Up 3.8 %

NASDAQ ACRS opened at $2.48 on Thursday. Aclaris Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.17. The firm has a 50 day moving average of $2.98 and a two-hundred day moving average of $2.01. The stock has a market capitalization of $177.15 million, a PE ratio of -4.77 and a beta of 0.54.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $4.35 million for the quarter, compared to analyst estimates 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 research analysts expect that Aclaris Therapeutics will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the transaction, the director now owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in Aclaris Therapeutics during the third quarter worth about $214,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Aclaris Therapeutics by 187.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 216,826 shares in the last quarter. Peapod Lane Capital LLC acquired a new stake in Aclaris Therapeutics during the 4th quarter valued at $1,003,000. Geode Capital Management LLC increased its position in Aclaris Therapeutics by 9.3% during the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock worth $974,000 after buying an additional 72,309 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Aclaris Therapeutics in the third quarter worth $1,053,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.