Analysts Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Target Price at $11.00

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.00.

ACRS has been the topic of several research analyst reports. Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, December 23rd. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday, November 19th. Finally, Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th.

Insider Buying and Selling

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the transaction, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ACRS. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Aclaris Therapeutics during the 2nd quarter worth $119,000. Millennium Management LLC grew its stake in shares of Aclaris Therapeutics by 1.9% during the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after purchasing an additional 63,358 shares during the period. Stonepine Capital Management LLC bought a new stake in Aclaris Therapeutics in the second quarter valued at about $2,120,000. Trium Capital LLP lifted its stake in Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after buying an additional 20,940 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics during the third quarter worth about $214,000. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Price Performance

Shares of ACRS stock opened at $2.57 on Monday. The stock’s fifty day simple moving average is $3.09 and its 200 day simple moving average is $1.93. Aclaris Therapeutics has a one year low of $0.95 and a one year high of $5.17. The firm has a market cap of $183.58 million, a price-to-earnings ratio of -4.94 and a beta of 0.54.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. On average, research analysts anticipate that Aclaris Therapeutics will post -0.81 earnings per share for the current year.

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.