Cantor Fitzgerald Begins Coverage on Aclaris Therapeutics (NASDAQ:ACRS)

by · The Markets Daily

Cantor Fitzgerald began coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS – Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued an overweight rating on the biotechnology company’s stock. Cantor Fitzgerald also issued estimates for Aclaris Therapeutics’ FY2025 earnings at ($0.62) EPS.

Several other research firms have also recently issued reports on ACRS. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, December 23rd. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, November 19th. StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Finally, Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.67.

Check Out Our Latest Research Report on Aclaris Therapeutics

Aclaris Therapeutics Stock Performance

ACRS stock opened at $1.57 on Tuesday. Aclaris Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.17. The business’s 50-day moving average is $2.18 and its two-hundred day moving average is $2.20. The company has a market cap of $169.43 million, a price-to-earnings ratio of -3.02 and a beta of 0.48.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRS. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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. Stonepine Capital Management LLC boosted its stake in Aclaris Therapeutics by 27.6% during the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after buying an additional 531,427 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Aclaris Therapeutics during the third quarter valued at approximately $1,053,000. Geode Capital Management LLC lifted its stake in shares of Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after purchasing an additional 72,309 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Aclaris Therapeutics by 113.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after purchasing an additional 211,585 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

About Aclaris Therapeutics

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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.

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