Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Average Rating of “Buy” by Analysts

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.7143.

A number of analysts have recently issued reports on ACRS shares. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a research note on Wednesday, June 25th. Scotiabank dropped their price objective on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Aclaris Therapeutics in a research note on Monday, June 23rd. Finally, Piper Sandler started coverage on shares of Aclaris Therapeutics in a research note on Thursday, July 10th. They set an “overweight” rating and a $6.00 price objective on the stock.

Aclaris Therapeutics Stock Performance

NASDAQ ACRS opened at $1.93 on Tuesday. The firm has a market capitalization of $209.08 million, a price-to-earnings ratio of -1.41 and a beta of 0.30. The company’s 50 day moving average price is $1.62 and its 200 day moving average price is $1.55. Aclaris Therapeutics has a one year low of $1.05 and a one year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $1.78 million for the quarter, compared to analyst estimates of $1.34 million. Aclaris Therapeutics had a negative net margin of 802.03% and a negative return on equity of 34.01%. Sell-side analysts forecast that Aclaris Therapeutics will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ACRS. CRA Financial Services LLC acquired a new position in Aclaris Therapeutics in the second quarter worth $25,000. ProShare Advisors LLC acquired a new position in Aclaris Therapeutics in the second quarter worth $26,000. Invesco Ltd. acquired a new position in Aclaris Therapeutics in the fourth quarter worth $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Aclaris Therapeutics in the second quarter worth $28,000. Finally, XTX Topco Ltd acquired a new position in Aclaris Therapeutics in the second quarter worth $34,000. Institutional investors and hedge funds 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.