Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Upgraded by Lifesci Capital

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by analysts at Lifesci Capital to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Piper Sandler upped their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Guggenheim started coverage on Aclaris Therapeutics in a report on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price target on the stock. Oppenheimer started coverage on Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Finally, Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Stock Performance

NASDAQ ACRS opened at $4.63 on Monday. The stock has a market capitalization of $646.63 million, a P/E ratio of -8.27 and a beta of 0.76. Aclaris Therapeutics has a 1 year low of $1.34 and a 1 year high of $5.15. The business’s fifty day moving average is $4.26 and its two-hundred day moving average is $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. On average, research analysts forecast that Aclaris Therapeutics will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of Aclaris Therapeutics stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the transaction, the insider directly owned 13,950,000 shares in the company, valued at approximately $63,193,500. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rock Springs Capital Management LP grew its position in Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after purchasing an additional 18,909 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after acquiring an additional 2,175,101 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after acquiring an additional 1,282,042 shares in the last quarter. Kalehua Capital Management LLC purchased a new position in shares of Aclaris Therapeutics during the 1st quarter valued at $6,871,000. Finally, Kotler Kevin purchased a new position in shares of Aclaris Therapeutics during the 4th quarter valued at $5,135,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.