Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Average Rating of “Buy” by Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.67.

ACRS has been the topic of several research analyst reports. StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Scotiabank started coverage on Aclaris Therapeutics in a research note on Friday, March 7th. They set a “sector outperform” rating and a $15.00 target price on the stock. Cantor Fitzgerald initiated coverage on Aclaris Therapeutics in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, December 23rd.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ACRS. Connor Clark & Lunn Investment Management Ltd. increased its stake in Aclaris Therapeutics by 187.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after acquiring an additional 216,826 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Aclaris Therapeutics during the 3rd quarter worth $1,053,000. Geode Capital Management LLC increased its position in shares of Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock worth $974,000 after purchasing an additional 72,309 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Aclaris Therapeutics by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock worth $985,000 after purchasing an additional 211,585 shares during the period. Finally, Peapod Lane Capital LLC acquired a new position in Aclaris Therapeutics in the fourth quarter valued at about $1,003,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $1.54 on Friday. The company’s 50-day moving average is $2.01 and its 200-day moving average is $2.24. The firm has a market capitalization of $166.20 million, a PE ratio of -2.96 and a beta of 0.53. Aclaris Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.17.

Aclaris Therapeutics Company Profile

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.