Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Recommendation of “Buy” from Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been given an average recommendation of “Buy” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of equities research analysts have issued reports on ACRS shares. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 20th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $3.00 to $13.00 in a report on Monday, November 18th. Finally, Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th.

Aclaris Therapeutics Trading Up 0.3 %

NASDAQ ACRS opened at $2.90 on Thursday. The company has a market cap of $207.15 million, a price-to-earnings ratio of -5.58 and a beta of 0.44. The company has a 50 day moving average of $2.79 and a 200-day moving average of $1.76. Aclaris Therapeutics has a 1-year low of $0.86 and a 1-year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released 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 net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. On average, equities research analysts forecast that Aclaris Therapeutics will post -0.75 earnings per share for the current year.

Insider Transactions at Aclaris Therapeutics

In other news, Director Anand Mehra purchased 666,666 shares of Aclaris Therapeutics stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost 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 trade represents a 1,537.37 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BML Capital Management LLC grew its holdings 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 worth $16,388,000 after acquiring an additional 1,261,866 shares during the last quarter. Millennium Management LLC grew 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 worth $3,671,000 after purchasing an additional 63,358 shares during the last quarter. Stonepine Capital Management LLC increased its holdings in Aclaris Therapeutics by 27.6% in the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after purchasing an additional 531,427 shares during the period. Trium Capital LLP increased its holdings in Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Aclaris Therapeutics during the 3rd quarter worth $1,053,000. Institutional investors own 98.34% of the company’s stock.

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.