Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) has been given an average rating of "Buy" by the seven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.80.
Several analysts have issued reports on ACRS shares. Piper Sandler upgraded Aclaris Therapeutics from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $3.00 to $13.00 in a research note on Monday, November 18th. Cantor Fitzgerald raised Aclaris Therapeutics from a "neutral" rating to an "overweight" rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and increased their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. BTIG Research upgraded shares of Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 price target for the company in a research report on Tuesday, November 19th. Finally, StockNews.com raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, November 15th.
Read Our Latest Stock Report on ACRS
Aclaris Therapeutics Price Performance
Shares of ACRS traded down $0.52 during midday trading on Friday, hitting $3.80. The stock had a trading volume of 2,988,904 shares, compared to its average volume of 5,999,812. The firm has a market cap of $271.43 million, a price-to-earnings ratio of -7.31 and a beta of 0.10. The company has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.39. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $5.17.
Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The business had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Analysts forecast that Aclaris Therapeutics will post -0.76 EPS for the current fiscal year.
Insider Buying and Selling
In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now owns 710,030 shares in the company, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 6.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Aclaris Therapeutics
Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in shares of Aclaris Therapeutics by 69.5% in the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company's stock valued at $41,000 after buying an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Aclaris Therapeutics by 5,265.1% during the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company's stock valued at $78,000 after purchasing an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics in the second quarter valued at $119,000. Assenagon Asset Management S.A. bought a new stake in shares of Aclaris Therapeutics during the third quarter valued at about $214,000. Finally, 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 worth $382,000 after purchasing an additional 216,826 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.
About Aclaris Therapeutics
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Get Free ReportAclaris 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.
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