Aclaris Therapeutics (NASDAQ:ACRS) Now Covered by Analysts at Piper Sandler

Equities research analysts at Piper Sandler started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $6.00 price target on the biotechnology company's stock. Piper Sandler's price objective suggests a potential upside of 282.17% from the stock's current price.

ACRS has been the topic of several other reports. Wedbush restated an "outperform" rating and issued a $8.00 target price on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. HC Wainwright restated a "buy" rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a research report on Wednesday, June 25th. Cantor Fitzgerald began coverage on Aclaris Therapeutics in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Scotiabank lowered their target price 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. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $8.71.

Aclaris Therapeutics Stock Performance

Shares of Aclaris Therapeutics stock traded down $0.02 on Thursday, reaching $1.57. 585,136 shares of the company were exchanged, compared to its average volume of 1,205,082. The company's 50-day moving average is $1.41 and its two-hundred day moving average is $1.74. The firm has a market cap of $170.00 million, a price-to-earnings ratio of -1.13 and a beta of 0.38. 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 announced its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping 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, sell-side analysts forecast that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP bought a new position in Aclaris Therapeutics during the 4th quarter valued at $26,000. Invesco Ltd. bought a new position in Aclaris Therapeutics during the 4th quarter valued at $28,000. Graham Capital Management L.P. bought a new position in Aclaris Therapeutics during the 4th quarter valued at $35,000. Commonwealth Equity Services LLC bought a new position in Aclaris Therapeutics during the 4th quarter valued at $36,000. Finally, Alpine Global Management LLC bought a new position in Aclaris Therapeutics during the 4th quarter valued at $38,000. 98.34% of the stock is owned by institutional investors.

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.