Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $11.50 Consensus Price Target from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.50.

ACRS has been the topic of several analyst reports. Guggenheim assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 target price on the stock. Wedbush raised 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. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Piper Sandler upped their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Aclaris Therapeutics in the 2nd quarter worth about $34,000. R Squared Ltd bought a new position in Aclaris Therapeutics during the 4th quarter valued at about $37,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter valued at about $48,000. BNP Paribas Financial Markets boosted its holdings in shares of Aclaris Therapeutics by 59.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 9,894 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth approximately $52,000. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Price Performance

Shares of NASDAQ:ACRS opened at $5.92 on Tuesday. The business has a fifty day moving average price of $5.30 and a 200-day moving average price of $4.41. The company has a market capitalization of $827.73 million, a PE ratio of -10.21 and a beta of 0.78. Aclaris Therapeutics has a 1-year low of $1.74 and a 1-year high of $6.51.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The company had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.38 million. On average, sell-side analysts anticipate that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Aclaris Therapeutics Company Profile

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.