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 note published on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $2.00 to $7.00 in a report on Tuesday. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $2.00 to $7.00 in a research note on Tuesday. Finally, Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $3.00 to $13.00 in a research report on Monday. Three investment 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock opened at $4.59 on Tuesday. Aclaris Therapeutics has a one year low of $0.77 and a one year high of $5.17. The company’s 50-day moving average is $1.53 and its 200 day moving average is $1.32. The company has a market capitalization of $327.86 million, a price-to-earnings ratio of -8.83 and a beta of 0.10.

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

Hedge Funds Weigh In On Aclaris Therapeutics

Several large investors have recently added to or reduced their stakes in ACRS. SG Americas Securities LLC boosted its position 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 worth $41,000 after acquiring an additional 13,461 shares during the period. Trium Capital LLP raised its position in Aclaris Therapeutics by 1.1% during the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after buying an additional 20,940 shares during the period. BNP Paribas Financial Markets lifted its position 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 worth $299,000 after buying an additional 23,747 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings 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 valued at $78,000 after buying an additional 61,602 shares during the last quarter. Finally, Millennium Management LLC increased its position in Aclaris Therapeutics by 1.9% during the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after buying an additional 63,358 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.