Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Cantor Fitzgerald to “Overweight” Rating

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

ACRS has been the topic of several other research reports. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $3.00 to $13.00 in a research note on Monday. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Leerink Partners upgraded 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. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Finally, Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Aclaris Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $3.96 on Wednesday. Aclaris Therapeutics has a one year low of $0.77 and a one year high of $5.17. The stock has a fifty day moving average of $1.60 and a 200 day moving average of $1.34. The stock has a market cap of $282.86 million, a PE ratio of -7.23 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly 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 business had revenue of $4.35 million for the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, sell-side analysts predict that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling at Aclaris Therapeutics

In related news, Director Anand Mehra acquired 666,666 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Aclaris Therapeutics

Several institutional investors have recently added to or reduced their stakes in ACRS. BML Capital Management LLC increased its stake in 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 during the period. Vanguard Group Inc. increased its stake in Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after buying an additional 207,418 shares during the period. Millennium Management LLC lifted its holdings in Aclaris Therapeutics by 1.9% during the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after buying an additional 63,358 shares in the last quarter. Stonepine Capital Management LLC boosted its position in Aclaris Therapeutics by 27.6% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after buying an additional 531,427 shares during the period. Finally, Trium Capital LLP grew its stake in Aclaris Therapeutics by 1.1% in the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after acquiring an additional 20,940 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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.