Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $8.71 Consensus Price Target from Analysts

Key Points

• Aclaris Therapeutics, Inc. has received a consensus rating of "Buy" from nine research firms, with eight analysts giving a buy rating and one a strong buy rating.
• Institutional investors hold 98.34% of Aclaris Therapeutics' stock, highlighting strong support from large investors, including significant increases in holdings by Millennium Management and Geode Capital Management.
• The company's stock price opened at $1.91, with a 1-year low of $1.05 and a high of $5.17, but it has recently traded down by 2.1%.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) has received a consensus recommendation of "Buy" from the nine analysts that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $8.7143.

A number of research firms recently weighed in on ACRS. Wedbush reaffirmed an "outperform" rating and set a $8.00 price objective on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. Piper Sandler started coverage on Aclaris Therapeutics in a report on Thursday, July 10th. They set an "overweight" rating and a $6.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Wednesday, June 25th.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its position in shares of Aclaris Therapeutics by 11.9% during the second quarter. Squarepoint Ops LLC now owns 390,583 shares of the biotechnology company's stock worth $555,000 after acquiring an additional 41,666 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Aclaris Therapeutics by 53.5% during the second quarter. Bridgeway Capital Management LLC now owns 443,319 shares of the biotechnology company's stock worth $630,000 after buying an additional 154,600 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Aclaris Therapeutics by 10.5% during the second quarter. Raymond James Financial Inc. now owns 277,259 shares of the biotechnology company's stock worth $394,000 after buying an additional 26,454 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Aclaris Therapeutics in the second quarter valued at approximately $70,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Aclaris Therapeutics in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Aclaris Therapeutics Trading Up 0.8%

Aclaris Therapeutics stock traded up $0.02 during mid-day trading on Friday, hitting $1.95. The company's stock had a trading volume of 166,827 shares, compared to its average volume of 969,257. The stock's fifty day moving average is $1.77 and its two-hundred day moving average is $1.53. The firm has a market capitalization of $210.70 million, a PE ratio of -1.42 and a beta of 0.27. Aclaris Therapeutics has a 1 year low of $1.05 and a 1 year high of $5.17.

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

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.