Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $11.33 Consensus Price Target from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given a consensus rating of “Buy” by the nine brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.3333.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Lifesci Capital began coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target on the stock. Canaccord Genuity Group began coverage on shares of Aclaris Therapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th.

Aclaris Therapeutics Trading Down 3.4%

NASDAQ:ACRS opened at $5.32 on Friday. Aclaris Therapeutics has a 1-year low of $1.74 and a 1-year high of $6.60. The firm has a market capitalization of $743.84 million, a price-to-earnings ratio of -9.17 and a beta of 0.79. The business’s fifty day moving average price is $5.80 and its 200 day moving average price is $4.75.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. Equities analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Aclaris Therapeutics during the second quarter valued at approximately $53,096,000. Rock Springs Capital Management LP increased its stake in shares of Aclaris Therapeutics by 0.4% during the 1st 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 during the last quarter. Millennium Management LLC increased its stake in shares of Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after purchasing an additional 2,175,101 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Finally, Braidwell LP lifted its stake in shares of Aclaris Therapeutics by 26.1% in the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after purchasing an additional 443,232 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.