Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Aclaris Therapeutics has received an average rating of "Buy" from nine brokerages, with eight analysts recommending buying and one assigning a strong buy.
• The average 12-month price target for Aclaris Therapeutics shares is $8.71, reflecting differing price objectives from various analysts, with the highest set at $16.00.
• Aclaris Therapeutics reported earnings of ($0.13) per share for the last quarter, meeting consensus estimates, with revenues of $1.78 million exceeding expectations of $1.34 million.

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) have been assigned an average recommendation of "Buy" from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.7143.

Several analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Monday, June 23rd. HC Wainwright reissued a "buy" rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, June 25th. Piper Sandler started coverage on Aclaris Therapeutics in a research note on Thursday, July 10th. They set an "overweight" rating and a $6.00 target price on the stock. Finally, Scotiabank cut their target price on Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th.

Institutional Trading of Aclaris Therapeutics

Several hedge funds have recently added to or reduced their stakes in ACRS. JPMorgan Chase & Co. raised its stake in Aclaris Therapeutics by 942.0% during the 4th quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company's stock valued at $219,000 after acquiring an additional 79,844 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth $28,000. Raymond James Financial Inc. bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth $383,000. XTX Topco Ltd bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth $111,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Aclaris Therapeutics by 211.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 239,595 shares of the biotechnology company's stock worth $594,000 after buying an additional 162,785 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Aclaris Therapeutics Stock Up 1.1%

NASDAQ:ACRS traded up $0.02 during trading hours on Tuesday, reaching $1.84. 395,626 shares of the stock were exchanged, compared to its average volume of 783,917. The firm has a 50 day simple moving average of $1.61 and a 200-day simple moving average of $1.56. Aclaris Therapeutics has a 52 week low of $1.05 and a 52 week high of $5.17. The stock has a market capitalization of $199.33 million, a P/E ratio of -1.34 and a beta of 0.30.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, hitting 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%. As a group, analysts expect that Aclaris Therapeutics will post -0.82 earnings per share for the current 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.