Aclaris Therapeutics (NASDAQ:ACRS) Coverage Initiated by Analysts at Scotiabank

Equities researchers at Scotiabank started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a report issued on Friday,Benzinga reports. The brokerage set a “sector outperform” rating and a $15.00 price target on the biotechnology company’s stock.

Other analysts have also issued research reports about the company. StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Cantor Fitzgerald upgraded Aclaris Therapeutics to a “strong-buy” rating in a report on Tuesday. Finally, HC Wainwright raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $11.67.

Aclaris Therapeutics Stock Performance

Shares of Aclaris Therapeutics stock traded up $0.01 during trading hours on Friday, reaching $1.83. The company’s stock had a trading volume of 1,197,748 shares, compared to its average volume of 768,692. The stock has a market cap of $130.72 million, a P/E ratio of -3.52 and a beta of 0.50. Aclaris Therapeutics has a one year low of $0.95 and a one year high of $5.17. The company’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.17.

Institutional Investors Weigh In On Aclaris Therapeutics

Several large investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. grew its holdings in shares of Aclaris Therapeutics by 253.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 40,700 shares of the biotechnology company’s stock worth $101,000 after buying an additional 29,200 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $38,000. Velan Capital Investment Management LP bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth $67,000. Squarepoint Ops LLC lifted its position in shares of Aclaris Therapeutics by 108.3% in the fourth quarter. Squarepoint Ops LLC now owns 292,892 shares of the biotechnology company’s stock worth $726,000 after purchasing an additional 152,312 shares in the last quarter. Finally, Man Group plc acquired a new position in Aclaris Therapeutics during the fourth quarter worth $133,000. 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.