Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Aclaris Therapeutics from “sell” to “hold,” while the broader analyst consensus remains “Buy” with an average price target of $11.33.
• ACRS opened at $3.75, below its 50-day and 200-day moving averages, and has traded between $2.10 and $6.60 over the past year. The company has a market capitalization of approximately $524 million.
• Aclaris beat quarterly expectations with an adjusted loss of $0.15 per share versus estimates of $0.16 and revenue of $1.63 million, but remains unprofitable with a negative net margin of 921.50%.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ACRS has been the subject of several other reports. Canaccord Genuity Group initiated coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They issued a "buy" rating and a $10.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Aclaris Therapeutics currently has an average rating of "Buy" and an average target price of $11.33.

Aclaris Therapeutics Stock Performance

ACRS opened at $3.75 on Friday. The business has a 50 day moving average price of $5.11 and a 200 day moving average price of $4.96. Aclaris Therapeutics has a twelve month low of $2.10 and a twelve month high of $6.60. The firm has a market cap of $524.34 million, a P/E ratio of -6.47 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate 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%. As a group, analysts anticipate that Aclaris Therapeutics will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in shares of Aclaris Therapeutics during the second quarter worth approximately $58,000. Strs Ohio acquired a new position in Aclaris Therapeutics in the first quarter valued at $60,000. Legal & General Group Plc acquired a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at approximately $61,000. SG Americas Securities LLC lifted its position in shares of Aclaris Therapeutics by 73.6% during the 1st quarter. SG Americas Securities LLC now owns 26,767 shares of the biotechnology company's stock valued at $100,000 after acquiring an additional 11,344 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Aclaris Therapeutics during the second quarter worth $104,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

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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