BTIG Research Upgrades Aclaris Therapeutics (NASDAQ:ACRS) to Buy

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $8.00 price target on the biotechnology company’s stock. BTIG Research’s target price suggests a potential upside of 154.78% from the company’s previous close.

ACRS has been the subject of several other research reports. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $3.00 to $13.00 in a report on Monday. Finally, HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.25.

Aclaris Therapeutics Stock Up 53.2 %

ACRS stock opened at $3.14 on Tuesday. The stock has a market capitalization of $224.29 million, a price-to-earnings ratio of -6.04 and a beta of 0.10. Aclaris Therapeutics has a 52-week low of $0.77 and a 52-week high of $3.54. The stock’s fifty day simple moving average is $1.53 and its 200-day simple moving average is $1.32.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. As a group, analysts anticipate that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 13,461 shares in the last quarter. Trium Capital LLP increased its stake in Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after buying an additional 20,940 shares during the period. BNP Paribas Financial Markets raised its position in shares of Aclaris Therapeutics by 10.9% during the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock worth $299,000 after buying an additional 23,747 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 61,602 shares during the period. Finally, Millennium Management LLC boosted its holdings 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 valued at $3,671,000 after acquiring an additional 63,358 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

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.