Guggenheim Upgrades Aclaris Therapeutics (NASDAQ:ACRS) to “Strong-Buy”

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by stock analysts at Guggenheim to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

ACRS has been the topic of a number of other research reports. Oppenheimer assumed coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They issued an “outperform” rating and a $10.00 target price on the stock. Craig Hallum assumed coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 target price on the stock. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Wedbush raised their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $11.00.

Aclaris Therapeutics Stock Up 4.9%

Shares of NASDAQ ACRS opened at $4.75 on Monday. Aclaris Therapeutics has a 52-week low of $1.16 and a 52-week high of $4.89. The firm has a fifty day moving average of $3.77 and a 200-day moving average of $3.22. The stock has a market capitalization of $663.39 million, a PE ratio of -8.96 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $2.07 million. Equities research analysts expect that Aclaris Therapeutics will post -0.63 EPS for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of Aclaris Therapeutics stock in a transaction 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 sale, the insider owned 13,950,000 shares of the company’s stock, valued at $63,193,500. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Aclaris Therapeutics by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company’s stock worth $1,441,000 after buying an additional 134,784 shares during the period. AXQ Capital LP acquired a new position in Aclaris Therapeutics during the 3rd quarter worth $27,000. Bank of New York Mellon Corp grew its holdings in Aclaris Therapeutics by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company’s stock worth $776,000 after acquiring an additional 3,507 shares in the last quarter. SG Americas Securities LLC grew its holdings in Aclaris Therapeutics by 73.6% during the 1st quarter. SG Americas Securities LLC now owns 26,767 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 11,344 shares in the last quarter. Finally, Strs Ohio acquired a new position in Aclaris Therapeutics during the 1st quarter worth $60,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Company Profile

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.