Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Target Price at $11.50

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.50.

ACRS has been the subject of a number of recent research reports. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Piper Sandler lifted their price objective on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock 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 issued a “buy” rating and a $12.00 price objective for the company. Finally, Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 target price on the stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in Aclaris Therapeutics during the 2nd quarter worth $34,000. R Squared Ltd bought a new stake in shares of Aclaris Therapeutics during the 4th quarter valued at $37,000. The Manufacturers Life Insurance Company bought a new stake in shares of Aclaris Therapeutics during the 2nd quarter valued at $48,000. BNP Paribas Financial Markets grew its holdings in shares of Aclaris Therapeutics by 59.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 9,894 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Aclaris Therapeutics during the 4th quarter worth $52,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Trading Down 1.4%

NASDAQ:ACRS opened at $5.78 on Tuesday. The stock has a market cap of $808.16 million, a P/E ratio of -9.97 and a beta of 0.78. The stock has a 50 day simple moving average of $5.27 and a 200 day simple moving average of $4.39. Aclaris Therapeutics has a 1-year low of $1.70 and a 1-year high of $6.51.

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

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.