Canaccord Genuity Group Issues Positive Forecast for Aclaris Therapeutics (NASDAQ:ACRS) Stock Price

Aclaris Therapeutics (NASDAQ:ACRS) had its price target boosted by Canaccord Genuity Group from $10.00 to $13.00 in a research note released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biotechnology company’s stock.

Several other brokerages have also weighed in on ACRS. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a research report on Wednesday, October 28th. Craig Hallum set a $9.00 price objective on Aclaris Therapeutics in a research report on Wednesday. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Finally, Wedbush decreased their price target on Aclaris Therapeutics from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Price Performance

ACRS opened at $3.97 on Friday. The business’s fifty day simple moving average is $4.88 and its 200 day simple moving average is $4.52. Aclaris Therapeutics has a 52 week low of $2.10 and a 52 week high of $6.60. The firm has a market cap of $555.10 million, a P/E ratio of -6.84 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. As a group, equities analysts expect that Aclaris Therapeutics will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth $53,096,000. Kalehua Capital Management LLC bought a new position in Aclaris Therapeutics during the first quarter valued at about $6,871,000. Palo Alto Investors LP acquired a new position in Aclaris Therapeutics during the second quarter worth about $8,535,045. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Aclaris Therapeutics during the second quarter worth about $6,400,000. Finally, Deutsche Bank AG acquired a new position in Aclaris Therapeutics during the second quarter worth about $5,507,000. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.