Scotiabank Cuts Aclaris Therapeutics (NASDAQ:ACRS) Price Target to $9.00

Aclaris Therapeutics (NASDAQ:ACRS) had its price target decreased by Scotiabank from $15.00 to $9.00 in a research note released on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on ACRS. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. StockNews.com downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $1.26 on Friday. The firm’s 50-day moving average is $1.41 and its 200-day moving average is $2.25. Aclaris Therapeutics has a 1 year low of $0.95 and a 1 year high of $5.17. The company has a market cap of $136.43 million, a P/E ratio of -2.42 and a beta of 0.42.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, sell-side analysts predict that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several large investors have recently bought and sold shares of the stock. ExodusPoint Capital Management LP acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $26,000. Invesco Ltd. acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $28,000. Graham Capital Management L.P. acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $35,000. Commonwealth Equity Services LLC acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $36,000. Finally, Alpine Global Management LLC acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.