Aclaris Therapeutics (NASDAQ:ACRS) Price Target Raised to $13.00

Aclaris Therapeutics (NASDAQ:ACRS) had its price objective increased by Canaccord Genuity Group from $10.00 to $13.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on the stock. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Wedbush lowered their target price on Aclaris Therapeutics from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research report on Wednesday, October 28th. Craig Hallum set a $9.00 target price on shares of Aclaris Therapeutics in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Aclaris Therapeutics presently has a consensus rating of “Buy” and an average price target of $11.33.

Aclaris Therapeutics Price Performance

Shares of Aclaris Therapeutics stock opened at $3.97 on Friday. Aclaris Therapeutics has a fifty-two week low of $2.10 and a fifty-two week high of $6.60. The firm has a fifty day moving average price of $4.88 and a two-hundred day moving average price of $4.52. The company has a market cap of $555.10 million, a PE ratio of -6.84 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. The business had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.38 million. Analysts expect that Aclaris Therapeutics will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors have recently bought and sold shares of ACRS. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Aclaris Therapeutics in the 3rd quarter valued at $40,000. Profund Advisors LLC grew its holdings in Aclaris Therapeutics by 462.3% during the 3rd quarter. Profund Advisors LLC now owns 171,421 shares of the biotechnology company’s stock valued at $902,000 after buying an additional 140,935 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Aclaris Therapeutics by 20.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 26,858 shares of the biotechnology company’s stock valued at $142,000 after purchasing an additional 4,630 shares during the last quarter. MBE Wealth Management LLC acquired a new position in Aclaris Therapeutics in the third quarter valued at $53,000. Finally, Braidwell LP grew its stake in shares of Aclaris Therapeutics by 26.1% in the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after buying an additional 443,232 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.