Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Leerink Partnrs to Strong-Buy Rating

Leerink Partnrs upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research analysts have also commented on the company. Leerink Partners upgraded Aclaris Therapeutics from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $2.00 to $7.00 in a research report on Tuesday. 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 report on Tuesday. HC Wainwright reaffirmed a "neutral" rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $8.80.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock traded down $0.63 on Tuesday, hitting $3.96. The stock had a trading volume of 5,847,028 shares, compared to its average volume of 1,400,571. Aclaris Therapeutics has a 52-week low of $0.77 and a 52-week high of $5.17. The firm has a market capitalization of $282.86 million, a price-to-earnings ratio of -7.23 and a beta of 0.10. The stock's 50 day moving average is $1.60 and its 200-day moving average is $1.34.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its 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 analysts' expectations of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. Equities analysts expect that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anand Mehra bought 666,666 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now directly owns 710,030 shares of the company's stock, valued at $1,597,567.50. The trade was a 1,537.37 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ACRS. Stonepine Capital Management LLC purchased a new position in shares of Aclaris Therapeutics during the second quarter valued at $2,120,000. Trium Capital LLP acquired a new stake in Aclaris Therapeutics during the 2nd quarter worth about $2,081,000. BML Capital Management LLC grew its stake in Aclaris Therapeutics by 9.7% during the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company's stock valued at $16,388,000 after acquiring an additional 1,261,866 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Aclaris Therapeutics in the 3rd quarter valued at about $1,053,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Aclaris Therapeutics by 187.6% in the third 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.

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.