Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Rating of “Buy” from Analysts

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $11.00.

Several analysts have recently commented on ACRS shares. 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. StockNews.com downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Cantor Fitzgerald raised shares of Aclaris Therapeutics to a “strong-buy” rating in a report on Thursday, January 30th. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Tuesday, November 19th. Finally, Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th.

Aclaris Therapeutics Price Performance

ACRS stock opened at $1.96 on Tuesday. The firm’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.17. The company has a market capitalization of $140.00 million, a P/E ratio of -3.77 and a beta of 0.50. Aclaris Therapeutics has a 12 month low of $0.95 and a 12 month high of $5.17.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ExodusPoint Capital Management LP purchased a new position in Aclaris Therapeutics during the fourth quarter valued at $26,000. Invesco Ltd. purchased a new position in Aclaris Therapeutics during the fourth quarter valued at $28,000. Graham Capital Management L.P. purchased a new position in Aclaris Therapeutics during the fourth quarter valued at $35,000. Commonwealth Equity Services LLC purchased a new position in Aclaris Therapeutics during the fourth quarter valued at $36,000. Finally, Alpine Global Management LLC purchased a new position in Aclaris Therapeutics during the fourth quarter valued at $38,000. 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.