Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Outperform at Leerink Partners

Leerink Partners upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS - Free Report) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has $7.00 target price on the biotechnology company's stock, up from their prior target price of $2.00.

ACRS has been the subject of several other reports. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and boosted their target price for the company from $2.00 to $7.00 in a research note on Tuesday. BTIG Research raised shares of Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 target price on the stock in a research note on Tuesday. HC Wainwright restated a "neutral" rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. StockNews.com upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Piper Sandler upgraded shares of Aclaris Therapeutics from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $3.00 to $13.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $8.80.

Aclaris Therapeutics Stock Up 46.2 %

Shares of Aclaris Therapeutics stock traded up $1.45 on Tuesday, reaching $4.59. 56,209,603 shares of the stock were exchanged, compared to its average volume of 1,379,805. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $5.17. The business has a 50 day moving average price of $1.53 and a two-hundred day moving average price of $1.32. The firm has a market capitalization of $327.86 million, a price-to-earnings ratio of -7.73 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) 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 company 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%. Research analysts forecast that Aclaris Therapeutics will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company's stock worth $41,000 after buying an additional 13,461 shares during the period. Russell Investments Group Ltd. boosted its holdings 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 purchasing an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at approximately $119,000. Assenagon Asset Management S.A. acquired a new position in Aclaris Therapeutics during the third quarter worth $214,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Aclaris Therapeutics by 10.9% during the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company's stock worth $299,000 after purchasing an additional 23,747 shares during the period. 98.34% of the stock is owned by hedge funds and other 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.