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

Investment analysts at Piper Sandler began coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) in a report issued 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 target price points to a potential upside of 283.39% from the stock's current price.

Several other analysts have also recently commented on ACRS. Scotiabank decreased their target price 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. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, June 25th. Wedbush reiterated an "outperform" rating and issued a $8.00 target price on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. Finally, Cantor Fitzgerald started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. One 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. Based on data from MarketBeat.com, Aclaris Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $8.71.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS traded up $0.03 during midday trading on Thursday, hitting $1.57. 340,340 shares of the company's stock were exchanged, compared to its average volume of 915,686. Aclaris Therapeutics has a twelve month low of $1.05 and a twelve month high of $5.17. The firm has a market cap of $169.46 million, a P/E ratio of -1.13 and a beta of 0.38. The stock's 50 day moving average price is $1.40 and its 200-day moving average price is $1.78.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts expect that Aclaris Therapeutics will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. acquired a new position in Aclaris Therapeutics in the fourth quarter worth about $82,000. Raymond James Financial Inc. acquired a new stake in Aclaris Therapeutics in the 4th quarter valued at $383,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Aclaris Therapeutics by 173.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,819 shares of the biotechnology company's stock valued at $2,254,000 after acquiring an additional 576,413 shares during the period. Commonwealth Equity Services LLC acquired a new position in Aclaris Therapeutics during the fourth quarter worth $36,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 79,844 shares during the period. Institutional investors 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.