Lifesci Capital Begins Coverage on Aclaris Therapeutics (NASDAQ:ACRS)

Lifesci Capital started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note issued to investors on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $13.00 price target on the biotechnology company’s stock. Lifesci Capital’s target price would indicate a potential upside of 179.27% from the company’s current price.

Several other analysts also recently weighed in on ACRS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Friday, March 27th. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Wedbush boosted their price objective on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Guggenheim started coverage on shares of Aclaris Therapeutics in a report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $11.50.

Aclaris Therapeutics Trading Up 7.3%

Shares of NASDAQ:ACRS traded up $0.32 during midday trading on Tuesday, hitting $4.66. The stock had a trading volume of 2,228,380 shares, compared to its average volume of 1,092,366. The company has a market capitalization of $650.14 million, a PE ratio of -7.85 and a beta of 0.76. The stock has a 50 day moving average price of $4.26 and a two-hundred day moving average price of $3.54. Aclaris Therapeutics has a 1 year low of $1.34 and a 1 year high of $5.15.

Aclaris Therapeutics (NASDAQ:ACRS) last issued 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. The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. As a group, equities analysts expect that Aclaris Therapeutics will post -0.63 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were 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 approximately $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Aclaris Therapeutics during the fourth quarter worth about $37,000. AXQ Capital LP acquired a new position in Aclaris Therapeutics during the third quarter worth about $27,000. Strs Ohio acquired a new position in Aclaris Therapeutics during the first quarter worth about $60,000. CIBC Asset Management Inc acquired a new position in Aclaris Therapeutics during the fourth quarter worth about $52,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in 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.