Aclaris Therapeutics’ (ACRS) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $16.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also commented on ACRS. Wedbush reaffirmed an “outperform” rating and set a $8.00 price target on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. Cantor Fitzgerald assumed coverage on shares of Aclaris Therapeutics in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, Scotiabank lowered their price objective on Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Aclaris Therapeutics Stock Down 5.8%

Aclaris Therapeutics stock opened at $1.47 on Wednesday. The stock has a market cap of $159.17 million, a P/E ratio of -1.06 and a beta of 0.41. Aclaris Therapeutics has a twelve month low of $1.05 and a twelve month high of $5.17. The company’s 50-day moving average price is $1.37 and its two-hundred day moving average price is $1.87.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 30.73% and a negative net margin of 732.42%. Equities analysts anticipate that Aclaris Therapeutics will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACRS. Assenagon Asset Management S.A. increased its stake in shares of Aclaris Therapeutics by 71.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 681,553 shares of the biotechnology company’s stock valued at $1,043,000 after purchasing an additional 284,191 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Aclaris Therapeutics by 942.0% in the 4th quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 79,844 shares during the last quarter. Bank of America Corp DE grew its position in Aclaris Therapeutics by 2,246.3% in the fourth quarter. Bank of America Corp DE now owns 205,465 shares of the biotechnology company’s stock valued at $510,000 after acquiring an additional 196,708 shares during the last quarter. Marshall Wace LLP bought a new position in Aclaris Therapeutics in the fourth quarter valued at about $6,532,000. Finally, Raymond James Financial Inc. bought a new position in Aclaris Therapeutics in the fourth quarter valued at about $383,000. 98.34% of the stock is owned by institutional investors.

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.