Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Aclaris Therapeutics (NASDAQ:ACRS) had its price target raised by analysts at Canaccord Genuity Group from $10.00 to $13.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group‘s price target suggests a potential upside of 227.46% from the company’s previous close.

ACRS has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a report on Wednesday, October 28th. Wedbush decreased their target price on shares of Aclaris Therapeutics from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Craig Hallum set a $9.00 price target on shares of Aclaris Therapeutics in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $3.97 on Friday. Aclaris Therapeutics has a 1-year low of $2.10 and a 1-year high of $6.60. The stock has a market cap of $555.10 million, a PE ratio of -6.84 and a beta of 0.87. The firm has a fifty day moving average price of $4.88 and a 200 day moving average price of $4.52.

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

Institutional Trading of Aclaris Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Aclaris Therapeutics in the 3rd quarter valued at about $40,000. Profund Advisors LLC increased its position in Aclaris Therapeutics by 462.3% during the 3rd quarter. Profund Advisors LLC now owns 171,421 shares of the biotechnology company’s stock worth $902,000 after purchasing an additional 140,935 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Aclaris Therapeutics by 20.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 26,858 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 4,630 shares in the last quarter. MBE Wealth Management LLC purchased a new position in Aclaris Therapeutics in the third quarter valued at approximately $53,000. Finally, Braidwell LP raised its holdings in 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 during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Aclaris Therapeutics Company Profile

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.