Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Leerink Partners

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities researchers at Leerink Partners from a “market perform” rating to an “outperform” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $7.00 price target on the biotechnology company’s stock, up from their previous price target of $2.00. Leerink Partners’ target price would indicate a potential upside of 122.93% from the stock’s previous close.

Several other research firms have also commented on ACRS. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.00 to $7.00 in a research report on Tuesday. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $3.00 to $13.00 in a research note on Monday. Finally, BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Price Performance

ACRS opened at $3.14 on Tuesday. The stock has a market capitalization of $224.29 million, a PE ratio of -6.04 and a beta of 0.10. The firm’s fifty day moving average price is $1.53 and its 200 day moving average price is $1.32. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company 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, equities research analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. BML Capital Management LLC lifted its position in shares of Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Aclaris Therapeutics by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after purchasing an additional 207,418 shares in the last quarter. Millennium Management LLC lifted its position in shares of Aclaris Therapeutics by 1.9% in 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 in the last quarter. Stonepine Capital Management LLC lifted its position in shares of Aclaris Therapeutics by 27.6% in the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock worth $2,828,000 after purchasing an additional 531,427 shares in the last quarter. Finally, Trium Capital LLP lifted its position in shares of Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after purchasing an additional 20,940 shares in the last quarter. 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.