Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Piper Sandler

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $13.00 target price on the biotechnology company’s stock, up from their prior target price of $3.00. Piper Sandler’s price target would indicate a potential upside of 306.25% from the stock’s previous close.

ACRS has been the topic of a number of other research reports. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

Aclaris Therapeutics Stock Up 56.1 %

Shares of ACRS traded up $1.15 during mid-day trading on Monday, hitting $3.20. 16,652,889 shares of the company traded hands, compared to its average volume of 1,071,410. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $3.23. The company has a market capitalization of $228.58 million, a PE ratio of -6.29 and a beta of 0.10. The business has a 50 day moving average of $1.49 and a 200 day moving average of $1.30.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, research analysts expect that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after buying an additional 72,309 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Aclaris Therapeutics in the third quarter valued at $1,053,000. Stonepine Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 27.6% during the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after purchasing an additional 531,427 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 216,826 shares during the period. Finally, BML Capital Management LLC increased its position in shares of Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after acquiring an additional 1,261,866 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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.