Aclaris Therapeutics (NASDAQ:ACRS) Sets New 52-Week High – Should You Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.20 and last traded at $5.1450, with a volume of 1116777 shares. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACRS. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. UBS Group set a $10.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Wedbush lifted their price target on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler upped their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Aclaris Therapeutics currently has an average rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Stock Performance

The business’s 50 day moving average price is $4.55 and its 200-day moving average price is $3.80. The firm has a market capitalization of $729.72 million, a PE ratio of -9.35 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.32 million. As a group, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 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 Aclaris Therapeutics stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the sale, the insider directly owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in Aclaris Therapeutics by 23.3% in the 1st quarter. Bank of America Corp DE now owns 79,539 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 15,018 shares in the last quarter. Rock Springs Capital Management LP lifted its position in shares of Aclaris Therapeutics by 0.4% during the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after purchasing an additional 18,909 shares in the last quarter. Kalehua Capital Management LLC purchased a new position in shares of Aclaris Therapeutics in the first quarter valued at approximately $6,871,000. Sei Investments Co. purchased a new position in shares of Aclaris Therapeutics in the first quarter valued at approximately $814,000. Finally, Monashee Investment Management LLC acquired a new position in shares of Aclaris Therapeutics in the first quarter valued at approximately $1,875,000. 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.