Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Target Price at $8.71

Key Points

• Aclaris Therapeutics has received a consensus rating of "Buy" from nine analysts covering the stock, with an average 1-year price target of $8.71.
• Recent target prices from analysts include a low of $6.00 from Piper Sandler and a high of $16.00 from HC Wainwright.
• The biotechnology company reported a loss of ($0.12) earnings per share in its latest quarterly earnings, surpassing expectations by $0.07.

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

A number of brokerages recently commented on ACRS. 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. Wedbush reiterated an "outperform" rating and set a $8.00 price target on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. Piper Sandler assumed coverage on Aclaris Therapeutics in a research report on Thursday, July 10th. They issued an "overweight" rating and a $6.00 target price on the stock. Finally, Scotiabank lowered their price target on Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 9th.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock traded up $0.01 during trading hours on Friday, reaching $1.54. The company had a trading volume of 310,892 shares, compared to its average volume of 986,548. Aclaris Therapeutics has a twelve month low of $1.05 and a twelve month high of $5.17. The company has a market capitalization of $166.21 million, a P/E ratio of -1.10 and a beta of 0.30. The stock's fifty day simple moving average is $1.51 and its 200 day simple moving average is $1.65.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 30.73% and a negative net margin of 732.42%. As a group, equities analysts expect that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several large investors have recently modified their holdings of ACRS. Raymond James Financial Inc. acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter worth $383,000. Commonwealth Equity Services LLC bought a new position in Aclaris Therapeutics during the fourth quarter valued at about $36,000. JPMorgan Chase & Co. raised its holdings in Aclaris Therapeutics by 942.0% during the fourth quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company's stock valued at $219,000 after buying an additional 79,844 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Aclaris Therapeutics in the fourth quarter worth about $26,000. Finally, Invesco Ltd. bought a new position in shares of Aclaris Therapeutics in the fourth quarter worth about $28,000. 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.