Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Stock Has Consensus Price Target of $11.33

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.33.

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Wall Street Zen cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Canaccord Genuity Group assumed coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $10.00 target price on the stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Braidwell LP grew its position in Aclaris Therapeutics by 26.1% during the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after acquiring an additional 443,232 shares during the last quarter. Wellington Management Group LLP raised its position in Aclaris Therapeutics by 4.0% in the 2nd quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock valued at $1,415,000 after purchasing an additional 10,342 shares during the last quarter. Palo Alto Investors LP acquired a new position in Aclaris Therapeutics in the second quarter worth $8,535,045. Jefferies Financial Group Inc. acquired a new position in Aclaris Therapeutics in the second quarter worth $58,000. Finally, Bank of America Corp DE bought a new stake in shares of Aclaris Therapeutics during the second quarter worth $584,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Stock Down 0.5%

Shares of ACRS opened at $4.39 on Wednesday. The firm has a market cap of $613.83 million, a price-to-earnings ratio of -7.57 and a beta of 0.87. The company’s fifty day moving average is $5.73 and its 200-day moving average is $4.97. Aclaris Therapeutics has a 12 month low of $1.74 and a 12 month high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. As a group, research analysts predict that Aclaris Therapeutics will post -0.62 earnings per share for the current fiscal year.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company’s research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris’ lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.