Aclaris Therapeutics' (ACRS) "Buy" Rating Reiterated at HC Wainwright

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $16.00 price target on the biotechnology company's stock.

Several other equities research analysts also recently weighed in on ACRS. Cantor Fitzgerald began coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. Wedbush restated an "outperform" rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a research note on Monday. Finally, Scotiabank reduced their price objective on Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.71.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ ACRS traded down $0.07 during trading on Wednesday, reaching $1.56. The stock had a trading volume of 991,432 shares, compared to its average volume of 1,200,736. The company has a market cap of $168.92 million, a P/E ratio of -1.12 and a beta of 0.41. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $5.17. The business's 50-day moving average price is $1.36 and its 200-day moving average price is $1.90.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share 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%. Analysts forecast that Aclaris Therapeutics will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Aclaris Therapeutics by 71.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 681,553 shares of the biotechnology company's stock worth $1,043,000 after purchasing an additional 284,191 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Aclaris Therapeutics by 942.0% in the fourth quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company's stock valued at $219,000 after buying an additional 79,844 shares in the last quarter. Bank of America Corp DE lifted its holdings in Aclaris Therapeutics by 2,246.3% during the 4th quarter. Bank of America Corp DE now owns 205,465 shares of the biotechnology company's stock worth $510,000 after buying an additional 196,708 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $6,532,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $383,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

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.