Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) PT at $11.00

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.00.

Several research analysts have recently issued reports on ACRS shares. Leerink Partnrs upgraded shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, December 23rd. Cantor Fitzgerald raised Aclaris Therapeutics to a “strong-buy” rating in a report on Thursday, January 30th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Tuesday, November 19th. Finally, Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th.

Aclaris Therapeutics Price Performance

Shares of Aclaris Therapeutics stock opened at $2.20 on Friday. Aclaris Therapeutics has a 1 year low of $0.95 and a 1 year high of $5.17. The firm’s 50-day moving average is $2.79 and its 200 day moving average is $2.08. The stock has a market cap of $157.15 million, a price-to-earnings ratio of -4.23 and a beta of 0.50.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra purchased 666,666 shares of Aclaris Therapeutics stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the transaction, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Several large investors have recently added to or reduced their stakes in the business. BML Capital Management LLC increased its position in Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after buying an additional 1,261,866 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Aclaris Therapeutics in the 3rd quarter worth approximately $1,053,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Aclaris Therapeutics by 173.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,819 shares of the biotechnology company’s stock worth $2,254,000 after acquiring an additional 576,413 shares during the period. Stonepine Capital Management LLC lifted its holdings in Aclaris Therapeutics by 27.6% during 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 in the last quarter. Finally, Peapod Lane Capital LLC bought a new position in shares of Aclaris Therapeutics in the fourth quarter worth approximately $1,003,000. 98.34% of the stock is currently owned by institutional investors.

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.