Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Lifesci Capital to Strong-Buy Rating

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

A number of other brokerages also recently issued reports on ACRS. Piper Sandler upped their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wedbush upped their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Oppenheimer began coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They set an “outperform” rating and a $10.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Finally, UBS Group set a $10.00 price target on Aclaris Therapeutics in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Trading Up 6.7%

Shares of ACRS stock opened at $4.63 on Monday. The business’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $3.54. The company has a market cap of $646.63 million, a PE ratio of -8.27 and a beta of 0.76. Aclaris Therapeutics has a 12-month low of $1.34 and a 12-month high of $5.15.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. On average, equities analysts forecast that Aclaris Therapeutics will post -0.63 earnings per share for the current year.

Insider Buying and Selling at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’s 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 directly owned 13,950,000 shares of the company’s stock, valued at $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of large investors have recently made changes to their positions in ACRS. Invesco Ltd. grew its holdings in shares of Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock valued at $87,000 after buying an additional 45,864 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after buying an additional 2,175,101 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Aclaris Therapeutics by 29.7% during the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after buying an additional 127,366 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 108.4% during the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after buying an additional 1,282,042 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Aclaris Therapeutics by 25.1% during the second quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock valued at $886,000 after buying an additional 125,071 shares during the last quarter. 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.