Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Several other analysts have also recently commented on ACRS. Canaccord Genuity Group started coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Trading Up 1.1%

Shares of ACRS opened at $3.79 on Friday. The company has a market capitalization of $529.93 million, a PE ratio of -6.53 and a beta of 0.87. Aclaris Therapeutics has a 12 month low of $2.10 and a 12 month high of $6.60. The stock’s 50-day moving average price is $5.11 and its two-hundred day moving average price is $4.48.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results 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%. Equities research analysts predict that Aclaris Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Aclaris Therapeutics during the 2nd quarter worth about $53,096,000. Rock Springs Capital Management LP increased its position in Aclaris Therapeutics by 0.4% in the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock valued at $16,772,000 after buying an additional 18,909 shares in the last quarter. Braidwell LP increased its position in Aclaris Therapeutics by 26.1% in the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after buying an additional 443,232 shares in the last quarter. Palo Alto Investors LP bought a new stake in Aclaris Therapeutics in the 2nd quarter valued at about $8,535,045. Finally, Kalehua Capital Management LLC acquired a new position in Aclaris Therapeutics during the 1st quarter worth approximately $6,871,000. 98.34% of the stock is owned by institutional investors.

About Aclaris Therapeutics

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.