Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Upgraded by Wall Street Zen

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts also recently issued research reports about the stock. Craig Hallum initiated coverage on shares of Aclaris Therapeutics in a research report on Friday, January 30th. They issued a “buy” rating and a $10.00 target price for the company. Wedbush reissued an “outperform” rating and set a $8.00 price target on shares of Aclaris Therapeutics in a report on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.80.

Aclaris Therapeutics Stock Performance

ACRS opened at $4.20 on Friday. The company’s 50-day simple moving average is $3.48 and its two-hundred day simple moving average is $2.90. The stock has a market capitalization of $506.52 million, a P/E ratio of -7.92 and a beta of 0.67. Aclaris Therapeutics has a 52-week low of $1.05 and a 52-week high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%.The company had revenue of $1.30 million during the quarter, compared to the consensus estimate of $2.07 million. Research analysts forecast that Aclaris Therapeutics will post -0.82 EPS for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after acquiring an additional 2,175,101 shares during the period. Kotler Kevin bought a new stake in shares of Aclaris Therapeutics during the 4th quarter valued at $5,135,000. Geode Capital Management LLC increased its stake in shares of Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Aclaris Therapeutics in the 3rd quarter worth $2,428,000. Finally, Three Bridge Wealth Advisors LLC purchased a new position in Aclaris Therapeutics during the third quarter valued at $1,358,000. 98.34% of the stock is 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.