Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Buy at BTIG Research

BTIG Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat Ratings reports. BTIG Research currently has $8.00 target price on the biotechnology company’s stock.

Several other equities research analysts also recently commented on the stock. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $3.00 to $13.00 in a research note on Monday. Finally, HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $4.59 on Tuesday. The firm has a market cap of $327.86 million, a PE ratio of -7.73 and a beta of 0.10. The firm’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.32. Aclaris Therapeutics has a one year low of $0.77 and a one year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (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 research analysts predict that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of 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 purchasing an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of 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. acquired a new stake in Aclaris Therapeutics during the 2nd quarter worth $119,000. Assenagon Asset Management S.A. acquired a new stake in Aclaris Therapeutics during the 3rd quarter worth $214,000. Finally, BNP Paribas Financial Markets boosted its stake in 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.