Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Target Raised at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised Aclaris Therapeutics’ price target from $10 to $13 and maintained a “buy” rating, implying 227.46% upside from the prior close.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and average price target of $11.33, though ratings range from “Strong Buy” to “Sell.”
• Aclaris reported better-than-expected quarterly results, posting an EPS loss of $0.15 versus the $0.16 estimate and revenue of $1.63 million versus the $1.38 million consensus.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) had its target price raised by analysts at Canaccord Genuity Group from $10.00 to $13.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 227.46% from the stock's previous close.

Several other analysts have also recently issued reports on ACRS. Wall Street Zen raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. HC Wainwright reaffirmed a "buy" rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Wednesday, October 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Craig Hallum set a $9.00 target price on shares of Aclaris Therapeutics in a research report on Wednesday. Finally, Wedbush lowered their price target on shares of Aclaris Therapeutics from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aclaris Therapeutics has an average rating of "Buy" and a consensus price target of $11.33.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $3.97 on Friday. Aclaris Therapeutics has a 12 month low of $2.10 and a 12 month high of $6.60. The business's fifty day simple moving average is $4.88 and its two-hundred day simple moving average is $4.52. The company has a market capitalization of $555.10 million, a price-to-earnings ratio of -6.84 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.01. The company had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. On average, equities research analysts predict that Aclaris Therapeutics will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACRS. Sei Investments Co. purchased a new position in shares of Aclaris Therapeutics during the 1st quarter worth $814,000. Bank of New York Mellon Corp purchased a new stake in shares of Aclaris Therapeutics during the second quarter worth $1,495,000. Dimensional Fund Advisors LP boosted its holdings in Aclaris Therapeutics by 88.8% in the first quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company's stock valued at $1,914,000 after purchasing an additional 240,611 shares during the period. Palo Alto Investors LP purchased a new stake in Aclaris Therapeutics during the 2nd quarter worth about $8,535,045. Finally, Deutsche Bank AG acquired a new stake in Aclaris Therapeutics in the 2nd quarter valued at about $5,507,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc NASDAQ: ACRS is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company's research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris' lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.

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