Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) to a strong-buy rating in a research report released on Tuesday,Zacks reports.

ACRS has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price objective on the stock. Piper Sandler upped their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Guggenheim began coverage on shares of Aclaris Therapeutics in a report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target for the company. Finally, Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Stock Down 0.5%

NASDAQ:ACRS opened at $6.02 on Tuesday. Aclaris Therapeutics has a 52-week low of $1.74 and a 52-week high of $6.60. The stock has a fifty day simple moving average of $5.69 and a 200-day simple moving average of $4.62. The company has a market capitalization of $841.74 million, a PE ratio of -10.38 and a beta of 0.78.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.38 million. As a group, equities analysts anticipate that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ACRS. XTX Topco Ltd acquired a new stake in shares of Aclaris Therapeutics during the second quarter valued at approximately $34,000. California State Teachers Retirement System lifted its holdings in shares of Aclaris Therapeutics by 36.9% in the second quarter. California State Teachers Retirement System now owns 6,798 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 1,833 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Aclaris Therapeutics in the second quarter worth $48,000. BNP Paribas Financial Markets boosted its position in shares of Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after buying an additional 9,894 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at $52,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.