Aclaris Therapeutics (NASDAQ:ACRS) Now Covered by Scotiabank

Scotiabank initiated coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note published on Friday,Benzinga reports. The firm issued a sector outperform rating and a $15.00 price target on the biotechnology company’s stock.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald raised shares of Aclaris Therapeutics to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, November 19th. StockNews.com downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Finally, HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Aclaris Therapeutics has a consensus rating of “Buy” and an average price target of $11.67.

Aclaris Therapeutics Stock Up 0.5 %

Shares of NASDAQ:ACRS opened at $1.83 on Friday. The company has a market cap of $130.72 million, a price-to-earnings ratio of -3.52 and a beta of 0.50. The firm’s 50-day simple moving average is $2.34 and its 200-day simple moving average is $2.18. Aclaris Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.17.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors have recently modified their holdings of ACRS. Adage Capital Partners GP L.L.C. acquired a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $23,876,000. Vivo Capital LLC acquired a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $22,044,000. RA Capital Management L.P. acquired a new position in Aclaris Therapeutics during the fourth quarter worth approximately $11,573,000. Rock Springs Capital Management LP increased its position in Aclaris Therapeutics by 125.3% during the fourth quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company’s stock worth $15,387,000 after purchasing an additional 3,450,814 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Aclaris Therapeutics during the fourth quarter worth approximately $6,985,000. Institutional investors and hedge funds 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.