Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Stock Has Consensus Target Price of $11.33

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given a consensus rating of “Buy” by the nine brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.33.

ACRS has been the subject of a number of recent analyst reports. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Finally, Canaccord Genuity Group initiated coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price objective on the stock.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $3.79 on Friday. The firm has a 50-day moving average price of $5.02 and a 200 day moving average price of $4.50. Aclaris Therapeutics has a 12-month low of $2.10 and a 12-month high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. The business had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.38 million. On average, sell-side analysts anticipate that Aclaris Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

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

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.