Aclaris Therapeutics’ (ACRS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research report report published on Monday morning,Benzinga reports. The firm currently has a $16.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on ACRS. Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Aclaris Therapeutics in a research report on Tuesday, October 14th. Finally, Piper Sandler began coverage on shares of Aclaris Therapeutics in a report on Thursday, July 10th. They issued an “overweight” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.71.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $2.26 on Monday. Aclaris Therapeutics has a 12-month low of $1.05 and a 12-month high of $5.17. The stock has a market capitalization of $244.83 million, a P/E ratio of -1.65 and a beta of 0.26. The firm’s 50-day moving average is $1.92 and its two-hundred day moving average is $1.59.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Aclaris Therapeutics had a negative net margin of 802.03% and a negative return on equity of 34.01%. The company had revenue of $1.78 million for the quarter, compared to analysts’ expectations of $1.34 million. As a group, analysts forecast that Aclaris Therapeutics will post -0.82 EPS for the current year.

Institutional Trading of Aclaris Therapeutics

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC raised its stake in shares of Aclaris Therapeutics by 25.9% during the first quarter. Acadian Asset Management LLC now owns 2,195,191 shares of the biotechnology company’s stock valued at $3,355,000 after purchasing an additional 451,044 shares during the period. OMERS ADMINISTRATION Corp increased its stake in shares of Aclaris Therapeutics by 223.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 175,900 shares of the biotechnology company’s stock worth $269,000 after buying an additional 121,500 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Aclaris Therapeutics by 29.7% in the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock worth $851,000 after buying an additional 127,366 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Aclaris Therapeutics by 20.2% in the first quarter. HighTower Advisors LLC now owns 316,064 shares of the biotechnology company’s stock worth $484,000 after buying an additional 53,116 shares during the last quarter. Finally, Decheng Capital LLC increased its stake in shares of Aclaris Therapeutics by 78.3% in the first quarter. Decheng Capital LLC now owns 4,041,736 shares of the biotechnology company’s stock worth $6,184,000 after buying an additional 1,775,069 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Company Profile

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.