Aclaris Therapeutics (NASDAQ:ACRS) Upgraded to “Overweight” at Piper Sandler

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday,Briefing.com Automated Import reports. The firm presently has a $13.00 price objective on the biotechnology company’s stock, up from their prior price objective of $3.00. Piper Sandler’s price objective would suggest a potential upside of 306.25% from the company’s current price.

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

Aclaris Therapeutics Stock Performance

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 stock has a market cap of $228.58 million, a price-to-earnings ratio of -6.29 and a beta of 0.10. The stock has a 50-day moving average price of $1.49 and a two-hundred day moving average price of $1.30.

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

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. BML Capital Management LLC lifted its stake in shares of Aclaris Therapeutics by 9.7% in the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after acquiring an additional 1,261,866 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after buying an additional 207,418 shares during the period. Millennium Management LLC boosted its stake in Aclaris Therapeutics by 1.9% during the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after purchasing an additional 63,358 shares during the last quarter. Stonepine Capital Management LLC boosted its stake in Aclaris Therapeutics by 27.6% during the 3rd 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 last quarter. Finally, Trium Capital LLP lifted its position in shares of Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after buying an additional 20,940 shares in the last quarter. 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.