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

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Aclaris Therapeutics (ACRS), setting a price target of $16.00.
• The company's stock is currently down 7.3% and opened at $1.90, with a 12-month range of $1.05 to $5.17.
• Aclaris Therapeutics has received a mixed consensus from analysts, overall receiving a "Moderate Buy" rating and an average target price of $8.71.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $16.00 price objective on the biotechnology company's stock.

Several other analysts have also weighed in on ACRS. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Aclaris Therapeutics in a report on Tuesday, October 14th. Wedbush reissued an "outperform" rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Monday, June 23rd. Finally, Piper Sandler started coverage on shares of Aclaris Therapeutics in a research note on Thursday, July 10th. They issued an "overweight" rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.71.

Aclaris Therapeutics Stock Down 7.3%

NASDAQ:ACRS opened at $1.90 on Monday. Aclaris Therapeutics has a 12-month low of $1.05 and a 12-month high of $5.17. The firm has a market capitalization of $205.83 million, a PE ratio of -1.39 and a beta of 0.26. The firm has a 50-day moving average price of $1.89 and a 200 day moving average price of $1.57.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Aclaris Therapeutics had a negative net margin of 802.03% and a negative return on equity of 34.01%. The firm had revenue of $1.78 million during the quarter, compared to analyst estimates of $1.34 million. On average, research analysts expect that Aclaris Therapeutics will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ACRS. Cannon Global Investment Management LLC bought a new position in shares of Aclaris Therapeutics during the first quarter worth $57,000. Alps Advisors Inc. raised its holdings in shares of Aclaris Therapeutics by 36.4% during the first quarter. Alps Advisors Inc. now owns 78,782 shares of the biotechnology company's stock worth $121,000 after acquiring an additional 21,022 shares during the period. Decheng Capital LLC raised its holdings in shares of Aclaris Therapeutics by 78.3% during the first quarter. Decheng Capital LLC now owns 4,041,736 shares of the biotechnology company's stock worth $6,184,000 after acquiring an additional 1,775,069 shares during the period. Invesco Ltd. raised its holdings in shares of Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company's stock worth $87,000 after acquiring an additional 45,864 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Aclaris Therapeutics by 20.2% during the first quarter. HighTower Advisors LLC now owns 316,064 shares of the biotechnology company's stock worth $484,000 after acquiring an additional 53,116 shares during the period. 98.34% of the stock is owned by institutional investors.

About Aclaris Therapeutics

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.

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