Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Average Rating of “Buy” by Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have earned an average rating of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.67.

A number of brokerages have recently issued reports on ACRS. StockNews.com downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Scotiabank initiated coverage on Aclaris Therapeutics in a research note on Friday, March 7th. They set a “sector outperform” rating and a $15.00 target price for the company. HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 23rd. Finally, Cantor Fitzgerald assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an “overweight” rating for the company.

Aclaris Therapeutics Trading Down 1.9 %

Shares of ACRS stock opened at $1.59 on Friday. Aclaris Therapeutics has a twelve month low of $0.95 and a twelve month high of $5.17. The company’s 50-day moving average price is $2.08 and its 200-day moving average price is $2.22. The stock has a market cap of $171.59 million, a price-to-earnings ratio of -3.06 and a beta of 0.48.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ACRS. Assenagon Asset Management S.A. grew its position in shares of Aclaris Therapeutics by 113.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock worth $985,000 after buying an additional 211,585 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Aclaris Therapeutics by 187.6% during 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. Geode Capital Management LLC increased its holdings in shares of Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Aclaris Therapeutics in the third quarter valued at $1,053,000. Finally, Peapod Lane Capital LLC acquired a new position in Aclaris Therapeutics during the fourth quarter worth approximately $1,003,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.