Analysts Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) PT at $8.80

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.80.

Several equities research analysts recently issued reports on ACRS shares. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, 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, November 19th.

Insider Buying and Selling at Aclaris Therapeutics

In related news, Director Anand Mehra acquired 666,666 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. This represents a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its holdings in shares of Aclaris Therapeutics by 69.5% in 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. increased its holdings in Aclaris Therapeutics by 5,265.1% during 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics during the 2nd quarter valued at about $119,000. Assenagon Asset Management S.A. purchased a new position in Aclaris Therapeutics during the 3rd quarter valued at about $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Aclaris Therapeutics by 187.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 216,826 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $3.63 on Friday. Aclaris Therapeutics has a one year low of $0.77 and a one year high of $5.17. The business has a fifty day moving average price of $1.87 and a 200-day moving average price of $1.43. The firm has a market capitalization of $259.29 million, a P/E ratio of -6.98 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last posted 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 the consensus estimate of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. Sell-side analysts expect that Aclaris Therapeutics will post -0.75 earnings per share for the current fiscal year.

About Aclaris Therapeutics

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.