Piper Sandler Upgrades Aclaris Therapeutics (NASDAQ:ACRS) to Overweight

Piper Sandler upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a neutral rating to an overweight rating in a research note released on Monday morning, Marketbeat reports. Piper Sandler currently has $13.00 target price on the biotechnology company’s stock, up from their previous target price of $3.00.

A number of other research firms also recently weighed in on ACRS. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Aclaris Therapeutics Trading Up 53.2 %

Shares of NASDAQ ACRS opened at $3.14 on Monday. The business has a 50-day moving average of $1.49 and a 200-day moving average of $1.30. The firm has a market capitalization of $224.29 million, a price-to-earnings ratio of -6.15 and a beta of 0.10. Aclaris Therapeutics has a 12 month low of $0.77 and a 12 month high of $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. On average, analysts predict that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Aclaris Therapeutics during the 1st quarter valued at about $39,000. SG Americas Securities LLC increased its stake in Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 13,461 shares during the period. Russell Investments Group Ltd. lifted its position in Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics during the second quarter valued at approximately $119,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Aclaris Therapeutics in the third quarter worth approximately $214,000. 98.34% of the stock is owned by institutional investors.

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.