Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports.

Several other equities analysts also recently weighed in on ACRS. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday, November 19th. Finally, Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Trading Down 12.0 %

Shares of ACRS opened at $3.80 on Wednesday. The firm has a market cap of $271.43 million, a P/E ratio of -7.31 and a beta of 0.10. The company’s 50-day moving average price is $1.77 and its 200 day moving average price is $1.39. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $4.35 million for the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Equities research analysts forecast that Aclaris Therapeutics will post -0.76 earnings per share for the current year.

Insider Buying and Selling

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now directly owns 710,030 shares in the company, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after acquiring an additional 23,747 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Aclaris Therapeutics by 69.5% in the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 61,602 shares during the period. Vanguard Group Inc. boosted its stake in shares of Aclaris Therapeutics by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after acquiring an additional 207,418 shares in the last quarter. Finally, Trium Capital LLP acquired a new stake in Aclaris Therapeutics in the 2nd quarter valued at about $2,081,000. 98.34% of the stock is owned by hedge funds and other 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.