Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Leerink Partnrs

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities research analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.00 to $13.00 in a report on Monday. Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $7.00 in a research note on Tuesday. Finally, Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $2.00 to $7.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

ACRS opened at $4.59 on Tuesday. The company has a market capitalization of $327.86 million, a price-to-earnings ratio of -8.83 and a beta of 0.10. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.17. The business’s fifty day simple moving average is $1.53 and its 200-day simple moving average is $1.32.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share 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 analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. On average, equities research analysts predict that Aclaris Therapeutics will post -0.65 EPS for the current year.

Institutional Trading of Aclaris Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ACRS. BML Capital Management LLC increased its stake in Aclaris Therapeutics by 9.7% during the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after purchasing an additional 1,261,866 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after acquiring an additional 207,418 shares during the period. Millennium Management LLC raised its stake in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after acquiring an additional 63,358 shares during the last quarter. Stonepine Capital Management LLC lifted its position in Aclaris Therapeutics by 27.6% during the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock worth $2,828,000 after acquiring an additional 531,427 shares during the period. Finally, Trium Capital LLP grew 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 purchasing an additional 20,940 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

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.