Cantor Fitzgerald Begins Coverage on Aclaris Therapeutics (NASDAQ:ACRS)

Cantor Fitzgerald started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS - Free Report) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating on the biotechnology company's stock. Cantor Fitzgerald also issued estimates for Aclaris Therapeutics' FY2025 earnings at ($0.62) EPS.

ACRS has been the subject of a number of other research reports. BTIG Research upgraded Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 target price for the company in a research report on Tuesday, November 19th. Leerink Partnrs raised shares of Aclaris Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and increased their target price for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Piper Sandler raised shares of 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, November 18th. Finally, StockNews.com cut Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 8th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Aclaris Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $11.67.

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Aclaris Therapeutics Stock Up 1.9 %

Shares of NASDAQ ACRS traded up $0.03 during mid-day trading on Tuesday, reaching $1.60. 2,614,942 shares of the company were exchanged, compared to its average volume of 1,163,694. The stock has a market capitalization of $172.67 million, a PE ratio of -3.08 and a beta of 0.48. Aclaris Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.17. The company's 50 day moving average price is $2.16 and its 200 day moving average price is $2.20.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $23,876,000. Vivo Capital LLC bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth approximately $22,044,000. Rock Springs Capital Management LP increased its stake in shares of Aclaris Therapeutics by 125.3% during the fourth quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company's stock valued at $15,387,000 after buying an additional 3,450,814 shares during the period. RA Capital Management L.P. purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $11,573,000. Finally, Janus Henderson Group PLC purchased a new stake in Aclaris Therapeutics in the fourth quarter worth $6,985,000. 98.34% of the stock is owned by institutional investors.

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.