Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by Jefferies Financial Group to “Buy” Rating

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $7.00 target price on the biotechnology company’s stock, up from their previous target price of $2.00. Jefferies Financial Group’s price target would suggest a potential upside of 122.93% from the stock’s current price.

ACRS has been the subject of a number of other research reports. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $3.00 to $13.00 in a report on Monday. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday. Finally, StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.25.

Aclaris Therapeutics Stock Up 53.2 %

NASDAQ:ACRS opened at $3.14 on Tuesday. Aclaris Therapeutics has a 52 week low of $0.77 and a 52 week high of $3.54. The stock’s fifty day moving average is $1.53 and its two-hundred day moving average is $1.32. The stock has a market capitalization of $224.29 million, a price-to-earnings ratio of -6.04 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $4.35 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently added to or reduced their stakes in ACRS. SG Americas Securities LLC lifted its position in shares of Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after buying an additional 13,461 shares during the last quarter. 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 acquiring an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Aclaris Therapeutics in the second quarter valued at $119,000. Assenagon Asset Management S.A. purchased a new position in shares of Aclaris Therapeutics during the third quarter worth about $214,000. Finally, BNP Paribas Financial Markets increased its position in shares of Aclaris Therapeutics by 10.9% during the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 23,747 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other 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.