Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Leerink Partners

Leerink Partners upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a market perform rating to an outperform rating in a report issued on Tuesday, Marketbeat.com reports. Leerink Partners currently has $7.00 price objective on the biotechnology company’s stock, up from their previous price objective of $2.00.

A number of other research analysts have also weighed in on ACRS. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $3.00 to $13.00 in a report on Monday. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $7.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

ACRS opened at $4.59 on Tuesday. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $5.17. The company has a market cap of $327.86 million, a price-to-earnings ratio of -7.73 and a beta of 0.10. The company’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $1.32.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The business had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. As a group, equities analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRS. BML Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 9.7% in the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares during the period. Vanguard Group Inc. increased its position in Aclaris Therapeutics by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after buying an additional 207,418 shares during the last quarter. Millennium Management LLC raised its stake in shares of Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after buying an additional 63,358 shares during the period. Stonepine Capital Management LLC lifted its position in shares of Aclaris Therapeutics by 27.6% during the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after buying an additional 531,427 shares during the last quarter. Finally, Trium Capital LLP grew its stake in shares of Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after acquiring an additional 20,940 shares during the period. 98.34% of the stock is currently 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.