Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Piper Sandler to “Overweight” Rating

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $13.00 price target on the biotechnology company’s stock, up from their prior price target of $3.00. Piper Sandler’s target price points to a potential upside of 183.22% from the company’s previous close.

Other analysts also recently issued reports about the company. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Up 46.2 %

NASDAQ ACRS opened at $4.59 on Monday. Aclaris Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $5.17. The business has a 50 day moving average price of $1.53 and a two-hundred day moving average price of $1.32. The stock has a market cap of $327.86 million, a PE ratio of -7.73 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. Sell-side analysts anticipate that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACRS. SG Americas Securities LLC raised its stake in Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 13,461 shares during the period. Trium Capital LLP grew its holdings in shares of Aclaris Therapeutics by 1.1% during the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Aclaris Therapeutics by 10.9% during the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 23,747 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Aclaris Therapeutics in the 1st quarter worth approximately $39,000. Finally, Russell Investments Group Ltd. boosted its position in Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares during the period. 98.34% of the stock is currently owned by institutional investors.

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.