Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Consensus Rating of “Buy” from Analysts

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.2857.

Several equities analysts have weighed in on ACRS shares. Wedbush increased their target price on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Guggenheim started coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 target price on the stock. Oppenheimer initiated coverage on Aclaris Therapeutics in a research note on Thursday, April 16th. They issued an “outperform” rating and a $10.00 target price on the stock. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Piper Sandler raised their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th.

Aclaris Therapeutics Trading Up 1.6%

NASDAQ:ACRS opened at $4.58 on Thursday. Aclaris Therapeutics has a 1-year low of $1.34 and a 1-year high of $5.15. The business’s 50-day moving average price is $4.21 and its two-hundred day moving average price is $3.49. The firm has a market capitalization of $639.64 million, a price-to-earnings ratio of -8.18 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%.The firm had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.32 million. Sell-side analysts predict that Aclaris Therapeutics will post -0.63 earnings per share for the current year.

Insider Activity at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the sale, the insider owned 13,950,000 shares of the company’s stock, valued at $63,193,500. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $37,000. AXQ Capital LP acquired a new stake in shares of Aclaris Therapeutics during the third quarter worth about $27,000. Strs Ohio acquired a new stake in shares of Aclaris Therapeutics during the first quarter worth about $60,000. CIBC Asset Management Inc acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $52,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.