Aclaris Therapeutics (NASDAQ:ACRS) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a report released on Tuesday morning, ValuEngine reports.

ACRS has been the subject of a number of other reports. Zacks Investment Research cut shares of Aclaris Therapeutics from a hold rating to a sell rating in a research note on Thursday, February 27th. SVB Leerink reaffirmed an outperform rating on shares of Aclaris Therapeutics in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $6.67.

Shares of NASDAQ:ACRS traded up $0.09 on Tuesday, reaching $1.09. The company’s stock had a trading volume of 333,780 shares, compared to its average volume of 749,127. Aclaris Therapeutics has a 52-week low of $0.70 and a 52-week high of $7.15. The company has a market cap of $41.53 million, a P/E ratio of -0.28 and a beta of 1.00. The company has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.50.

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in shares of Aclaris Therapeutics by 63.2% during the 3rd quarter. Millennium Management LLC now owns 260,451 shares of the biotechnology company’s stock worth $281,000 after purchasing an additional 100,831 shares during the period. Man Group plc boosted its stake in shares of Aclaris Therapeutics by 81.5% during the 3rd quarter. Man Group plc now owns 3,734,793 shares of the biotechnology company’s stock worth $4,034,000 after purchasing an additional 1,676,857 shares during the period. Endurant Capital Management LP boosted its stake in shares of Aclaris Therapeutics by 8.6% during the 3rd quarter. Endurant Capital Management LP now owns 1,769,785 shares of the biotechnology company’s stock worth $1,911,000 after purchasing an additional 140,458 shares during the period. MFN Partners Management LP boosted its stake in shares of Aclaris Therapeutics by 166.7% during the 4th quarter. MFN Partners Management LP now owns 4,000,000 shares of the biotechnology company’s stock worth $7,560,000 after purchasing an additional 2,500,000 shares during the period. Finally, State Street Corp boosted its position in Aclaris Therapeutics by 22.5% in the 3rd quarter. State Street Corp now owns 743,330 shares of the biotechnology company’s stock valued at $803,000 after buying an additional 136,751 shares during the period. 78.20% of the stock is owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.

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