Aclaris Therapeutics (NASDAQ:ACRS) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $7.00 target price on the biotechnology company’s stock, up from their prior target price of $2.00.

Other research analysts have also issued reports about the company. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $3.00 to $13.00 in a research report on Monday, November 18th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Tuesday. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $3.80 on Tuesday. The firm’s 50 day moving average is $1.77 and its 200-day moving average is $1.39. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.17. The stock has a market capitalization of $271.44 million, a P/E ratio of -7.31 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its 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). The company had revenue of $4.35 million for the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, equities research analysts forecast that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling at Aclaris Therapeutics

In related news, Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the transaction, the director now owns 710,030 shares of the company’s stock, valued at $1,597,567.50. The trade was a 1,537.37 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ACRS. BML Capital Management LLC raised its position in shares of Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after buying an additional 1,261,866 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in shares of Aclaris Therapeutics in the second quarter valued at $2,120,000. Trium Capital LLP bought a new position in Aclaris Therapeutics in the second quarter worth $2,081,000. Russell Investments Group Ltd. boosted its stake in Aclaris Therapeutics by 5,265.1% during the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after buying an additional 61,602 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Aclaris Therapeutics by 10.9% in the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after buying an additional 23,747 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.