Aclaris Therapeutics (NASDAQ:ACRS) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on ACRS. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, November 19th. StockNews.com lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 23rd. Finally, Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $3.00 to $13.00 in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.00.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock opened at $1.85 on Tuesday. Aclaris Therapeutics has a 1 year low of $0.95 and a 1 year high of $5.17. The stock has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.18. The firm has a market capitalization of $132.15 million, a PE ratio of -3.56 and a beta of 0.50.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in 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 valued at $985,000 after buying an additional 211,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 valued at $382,000 after buying an additional 216,826 shares during the period. BML Capital Management LLC raised its position in Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after buying an additional 1,261,866 shares during the period. Geode Capital Management LLC raised its position in Aclaris Therapeutics by 9.3% during the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after buying an additional 72,309 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Aclaris Therapeutics during the third quarter valued at $1,053,000. 98.34% of the stock is 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.