Cantor Fitzgerald Upgrades Aclaris Therapeutics (NASDAQ:ACRS) to Strong-Buy

Cantor Fitzgerald upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on ACRS. Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Tuesday, November 19th. HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, December 23rd. Finally, Leerink Partnrs raised shares of 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Aclaris Therapeutics has an average rating of “Buy” and a consensus price target of $11.00.

Aclaris Therapeutics Trading Up 3.8 %

Aclaris Therapeutics stock opened at $2.48 on Thursday. Aclaris Therapeutics has a 12 month low of $0.95 and a 12 month high of $5.17. The company has a market capitalization of $177.15 million, a price-to-earnings ratio of -4.77 and a beta of 0.54. The business’s fifty day simple moving average is $2.98 and its two-hundred day simple moving average is $2.01.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data 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 return on equity of 40.26% and a negative net margin of 136.65%. The firm had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. On average, equities research analysts predict that Aclaris Therapeutics will post -0.86 EPS for the current year.

Insider Buying and Selling

In related news, Director Anand Mehra purchased 666,666 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Large investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in shares of Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after acquiring an additional 63,358 shares during the period. Trium Capital LLP grew its stake in Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics in the third quarter worth about $214,000. BML Capital Management LLC raised its holdings in Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position 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 buying an additional 216,826 shares during the last quarter. Institutional investors 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.