Aclaris Therapeutics (NASDAQ:ACRS) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other brokerages have also recently issued reports on ACRS. Canaccord Genuity Group initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $10.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Stock Down 2.1%

Aclaris Therapeutics stock opened at $3.75 on Friday. Aclaris Therapeutics has a 52-week low of $2.10 and a 52-week high of $6.60. The firm has a market capitalization of $524.33 million, a price-to-earnings ratio of -6.47 and a beta of 0.87. The company has a fifty day simple moving average of $5.11 and a 200-day simple moving average of $4.96.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. On average, research analysts anticipate that Aclaris Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACRS. BlackRock Inc. acquired a new stake in Aclaris Therapeutics during the second quarter worth about $53,096,000. Rock Springs Capital Management LP increased its holdings in shares of Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after buying an additional 18,909 shares during the last quarter. Braidwell LP increased its holdings in shares of Aclaris Therapeutics by 26.1% during 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 during the last quarter. Palo Alto Investors LP acquired a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $8,535,045. Finally, Kalehua Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics during the 1st quarter valued at approximately $6,871,000. Institutional investors and hedge funds 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 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.