Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $9.80.

Several research analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, January 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, December 29th. Finally, Craig Hallum began coverage on Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 price target for the company.

Aclaris Therapeutics Price Performance

Shares of ACRS opened at $3.24 on Tuesday. The firm has a market capitalization of $351.05 million, a PE ratio of -2.35 and a beta of 0.86. The company’s 50-day moving average is $3.24 and its 200-day moving average is $2.55. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.89.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds have recently bought and sold shares of ACRS. Millennium Management LLC boosted its holdings in Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares during the period. Geode Capital Management LLC raised its position in shares of Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after buying an additional 1,282,042 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Aclaris Therapeutics by 10.9% in the second quarter. Acadian Asset Management LLC now owns 2,433,850 shares of the biotechnology company’s stock valued at $3,453,000 after buying an additional 238,659 shares during the period. Kotler Kevin acquired a new stake in Aclaris Therapeutics during the fourth quarter worth approximately $5,135,000. Finally, Palo Alto Investors LP increased its stake in Aclaris Therapeutics by 12.7% during the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock worth $2,977,000 after acquiring an additional 176,812 shares during the period. 98.34% of the stock is owned by institutional investors.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.