Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Upgraded by Guggenheim

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Craig Hallum initiated coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 price objective for the company. Wedbush increased their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, UBS Group set a $10.00 price objective on Aclaris Therapeutics in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $11.00.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $4.75 on Monday. The firm has a market capitalization of $663.39 million, a price-to-earnings ratio of -8.96 and a beta of 0.76. The stock’s fifty day moving average is $3.77 and its 200-day moving average is $3.22. Aclaris Therapeutics has a one year low of $1.16 and a one year high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%.The company had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.07 million. Analysts forecast that Aclaris Therapeutics will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the sale, the insider owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Aclaris Therapeutics by 409.0% in the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 45,864 shares during the period. Millennium Management LLC lifted its holdings in Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after buying an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. raised its stake in Aclaris Therapeutics by 29.7% during 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. Geode Capital Management LLC boosted its position in shares of Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Aclaris Therapeutics by 25.1% in the second quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 125,071 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

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.