Aclaris Therapeutics (NASDAQ:ACRS) Given New $8.00 Price Target at Wedbush

Aclaris Therapeutics (NASDAQ:ACRS) had its price target reduced by research analysts at Wedbush from $10.00 to $8.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Wedbush‘s price objective suggests a potential upside of 112.65% from the company’s current price.

ACRS has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Canaccord Genuity Group initiated coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a report on Wednesday. Finally, Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.11.

Aclaris Therapeutics Stock Down 0.7%

Shares of NASDAQ:ACRS traded down $0.03 during midday trading on Wednesday, hitting $3.76. The stock had a trading volume of 194,231 shares, compared to its average volume of 2,216,529. The stock has a 50 day moving average price of $5.02 and a two-hundred day moving average price of $4.50. Aclaris Therapeutics has a 1 year low of $2.10 and a 1 year high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.38 million. As a group, equities research analysts predict that Aclaris Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ACRS. China Universal Asset Management Co. Ltd. raised its stake in shares of Aclaris Therapeutics by 20.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 26,858 shares of the biotechnology company’s stock worth $142,000 after buying an additional 4,630 shares during the last quarter. MBE Wealth Management LLC purchased a new stake in shares of Aclaris Therapeutics in the 3rd quarter worth about $53,000. Braidwell LP boosted its position in shares of Aclaris Therapeutics by 26.1% in the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after buying an additional 443,232 shares in the last quarter. Wellington Management Group LLP grew its stake in Aclaris Therapeutics by 4.0% in the 2nd quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock valued at $1,415,000 after acquiring an additional 10,342 shares during the last quarter. Finally, Palo Alto Investors LP purchased a new stake in shares of Aclaris Therapeutics in the second quarter valued at about $8,535,045. 98.34% of the stock is owned by institutional investors and hedge funds.

More Aclaris Therapeutics News

Here are the key news stories impacting Aclaris Therapeutics this week:

• Positive Sentiment: Aclaris reported positive Phase 1b proof-of-concept results for ATI-052, its anti-TSLP/IL-4Rα bispecific antibody, in atopic dermatitis and asthma. The data provide early clinical validation for a potentially differentiated immuno-inflammatory treatment and support continued development. Aclaris Announces Positive Phase 1b ATI-052 Results
• Positive Sentiment: HC Wainwright reaffirmed its “Buy” rating and maintained a $16 price target, implying substantial upside from the stock’s recent trading level. The endorsement may reinforce investor confidence following the trial update. HC Wainwright Ratings
• Positive Sentiment: The financing is expected to provide approximately $50 million in gross proceeds, giving Aclaris additional capital to advance ATI-052 and its broader pipeline. Participation from TCGX, RA Capital Management, Invus and a mutual fund indicates institutional support. Aclaris $50 Million Offering
• Neutral Sentiment: Reported short interest was zero as of October 26, suggesting limited potential for short-covering activity to influence the stock in the near term.
• Negative Sentiment: Aclaris is issuing 7,785,714 common shares plus pre-funded warrants for another 6.5 million shares at approximately $3.50 per share. The sizable offering, priced below the recent market level, creates significant dilution and likely explains why the stock has weakened despite the positive trial news. Aclaris $46.7 Million Offering

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.