Aclaris Therapeutics (NASDAQ:ACRS) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) in a report released on Thursday, MarketBeat.com reports. The firm set an "overweight" rating and a $6.00 price target on the biotechnology company's stock. Piper Sandler's price objective points to a potential upside of 277.36% from the stock's current price.

ACRS has been the subject of a number of other reports. HC Wainwright reiterated a "buy" rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research report on Wednesday, June 25th. Cantor Fitzgerald initiated coverage on Aclaris Therapeutics in a report on Tuesday, March 18th. They issued an "overweight" rating for 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. Finally, Scotiabank cut their price objective on Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.71.

Aclaris Therapeutics Trading Up 3.2%

Shares of ACRS stock traded up $0.05 during trading hours on Thursday, hitting $1.59. 1,269,070 shares of the company's stock were exchanged, compared to its average volume of 1,203,145. Aclaris Therapeutics has a 12-month low of $1.05 and a 12-month high of $5.17. The business's 50 day simple moving average is $1.40 and its 200-day simple moving average is $1.78. The company has a market capitalization of $172.17 million, a PE ratio of -1.14 and a beta of 0.38.

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

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of ACRS. Adage Capital Partners GP L.L.C. acquired a new stake in Aclaris Therapeutics in the 4th quarter valued at about $23,876,000. Vivo Capital LLC purchased a new position in shares of Aclaris Therapeutics in the 4th quarter valued at approximately $22,044,000. RA Capital Management L.P. purchased a new position in shares of Aclaris Therapeutics in the 4th quarter valued at approximately $11,573,000. Rock Springs Capital Management LP grew its stake in shares of Aclaris Therapeutics by 125.3% in the 4th quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company's stock valued at $15,387,000 after purchasing an additional 3,450,814 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Aclaris Therapeutics in the 4th quarter valued at approximately $6,985,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Aclaris Therapeutics Company Profile

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.