Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS - Free Report) from a hold rating to a buy rating in a report released on Tuesday morning, MarketBeat.com reports. The firm currently has $7.00 price target on the biotechnology company's stock, up from their prior price target of $2.00.

A number of other research firms have also commented on ACRS. HC Wainwright restated a "neutral" rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. StockNews.com upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday. BTIG Research upgraded Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 price target on the stock in a research report on Tuesday. Finally, Piper Sandler upgraded Aclaris Therapeutics from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $3.00 to $13.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.80.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock traded up $1.45 during trading hours on Tuesday, hitting $4.59. The company had a trading volume of 56,339,600 shares, compared to its average volume of 1,380,479. Aclaris Therapeutics has a 12 month low of $0.77 and a 12 month high of $5.17. The firm has a market capitalization of $327.86 million, a price-to-earnings ratio of -7.73 and a beta of 0.10. The firm's fifty day moving average is $1.53 and its 200 day moving average is $1.32.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in Aclaris Therapeutics by 69.5% in the 1st 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 during the last quarter. Russell Investments Group Ltd. boosted its position in Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company's stock valued at $78,000 after buying an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Aclaris Therapeutics in the 2nd quarter valued at $119,000. Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics in the 3rd quarter valued at $214,000. Finally, BNP Paribas Financial Markets boosted its position in Aclaris Therapeutics by 10.9% in the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company's stock valued at $299,000 after buying an additional 23,747 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.