Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research firms have also commented on ACRS. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $3.00 to $13.00 in a research note on Monday. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday. Finally, Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $2.00 to $7.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Trading Up 46.2 %

NASDAQ:ACRS opened at $4.59 on Tuesday. The business’s 50-day moving average price is $1.53 and its two-hundred day moving average price is $1.32. The firm has a market capitalization of $327.86 million, a price-to-earnings ratio of -8.83 and a beta of 0.10. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. Sell-side analysts predict that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aclaris Therapeutics during the 2nd quarter worth approximately $119,000. Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics in the third quarter valued at about $214,000. Finally, BNP Paribas Financial Markets lifted its position in Aclaris Therapeutics by 10.9% during the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after purchasing an additional 23,747 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.