Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Lifesci Capital to Strong-Buy Rating

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by Lifesci Capital to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Oppenheimer assumed coverage on shares of Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price target on the stock. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Guggenheim assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They set a “buy” rating and a $12.00 target price on the stock. Piper Sandler increased their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Stock Performance

NASDAQ:ACRS opened at $4.63 on Monday. Aclaris Therapeutics has a one year low of $1.34 and a one year high of $5.15. The firm has a market cap of $646.63 million, a price-to-earnings ratio of -8.27 and a beta of 0.76. The firm’s fifty day moving average is $4.26 and its two-hundred day moving average is $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Thursday, May 7th. 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 net margin of 832.58% and a negative return on equity of 55.89%. The company had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.32 million. As a group, equities research analysts predict that Aclaris Therapeutics will post -0.63 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the sale, the insider directly owned 13,950,000 shares of the company’s stock, valued at $63,193,500. This represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $37,000. AXQ Capital LP acquired a new position in shares of Aclaris Therapeutics during the 3rd quarter worth about $27,000. Strs Ohio acquired a new position in shares of Aclaris Therapeutics during the 1st quarter worth about $60,000. CIBC Asset Management Inc acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $52,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.