Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Canaccord Genuity Group to “Strong-Buy” Rating

Aclaris Therapeutics (NASDAQ:ACRSGet Free Report) was upgraded by equities researchers at Canaccord Genuity Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler boosted their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Guggenheim began coverage on Aclaris Therapeutics in a report on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Finally, Lifesci Capital started coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $11.33.

Check Out Our Latest Report on Aclaris Therapeutics

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $6.02 on Tuesday. The company has a 50-day simple moving average of $5.69 and a 200-day simple moving average of $4.62. The firm has a market capitalization of $841.74 million, a P/E ratio of -10.38 and a beta of 0.78. Aclaris Therapeutics has a one year low of $1.74 and a one year high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRSGet Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. As a group, sell-side analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Institutional Trading of Aclaris Therapeutics

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. bought a new position in Aclaris Therapeutics during the first quarter valued at about $814,000. Dimensional Fund Advisors LP raised its position in Aclaris Therapeutics by 88.8% in the first quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company’s stock worth $1,914,000 after acquiring an additional 240,611 shares in the last quarter. Kalehua Capital Management LLC bought a new stake in Aclaris Therapeutics in the first quarter worth about $6,871,000. Deutsche Bank AG acquired a new stake in Aclaris Therapeutics in the 2nd quarter valued at about $5,507,000. Finally, Monashee Investment Management LLC acquired a new stake in Aclaris Therapeutics in the 1st quarter valued at about $1,875,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Aclaris Therapeutics (NASDAQ:ACRS)

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