Aclaris Therapeutics (NASDAQ:ACRS) Upgraded at Cantor Fitzgerald

Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, December 23rd. Finally, Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.00.

Aclaris Therapeutics Stock Performance

ACRS opened at $1.93 on Tuesday. The stock has a fifty day moving average of $2.40 and a 200-day moving average of $2.18. Aclaris Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.17. The company has a market capitalization of $137.86 million, a P/E ratio of -3.71 and a beta of 0.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BML Capital Management LLC grew its position in shares of Aclaris Therapeutics by 9.7% during the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after buying an additional 1,261,866 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Aclaris Therapeutics in the 4th quarter worth $23,876,000. Vivo Capital LLC acquired a new stake in Aclaris Therapeutics in the 4th quarter valued at $22,044,000. Rock Springs Capital Management LP increased its stake in Aclaris Therapeutics by 125.3% during the 4th quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company’s stock valued at $15,387,000 after purchasing an additional 3,450,814 shares in the last quarter. Finally, RA Capital Management L.P. acquired a new position in Aclaris Therapeutics during the fourth quarter worth $11,573,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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.