Analysts Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) PT at $9.80

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

ACRS has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, January 28th. Finally, Craig Hallum started coverage on Aclaris Therapeutics in a research note on Friday, January 30th. They set a “buy” rating and a $10.00 price objective on the stock.

Aclaris Therapeutics Price Performance

ACRS opened at $3.25 on Tuesday. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.89. The firm has a market capitalization of $352.12 million, a PE ratio of -2.36 and a beta of 0.86. The company’s 50-day moving average is $3.24 and its 200 day moving average is $2.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACRS. Invesco Ltd. grew its position in Aclaris Therapeutics by 409.0% in the 1st quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 45,864 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after buying an additional 2,175,101 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Aclaris Therapeutics by 29.7% during the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after acquiring an additional 127,366 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Aclaris Therapeutics by 10.9% during 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 acquiring an additional 238,659 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Aclaris Therapeutics during the second quarter worth $26,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Aclaris Therapeutics Company Profile

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.