Aclaris Therapeutics (NASDAQ:ACRS) Earns Buy Rating from HC Wainwright

Aclaris Therapeutics (NASDAQ:ACRS)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $16.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 253.20% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.75.

Aclaris Therapeutics Stock Performance

NASDAQ:ACRS opened at $4.53 on Wednesday. The stock has a market capitalization of $490.83 million, a P/E ratio of -3.28 and a beta of 0.41. The company has a 50 day moving average price of $2.95 and a 200 day moving average price of $2.26. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Aclaris Therapeutics had a negative return on equity of 39.73% and a negative net margin of 900.01%.The company had revenue of $3.30 million for the quarter, compared to analyst estimates of $1.59 million. Research analysts forecast that Aclaris Therapeutics will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after buying an additional 45,864 shares during the period. Millennium Management LLC increased its position in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after purchasing an additional 127,366 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Aclaris Therapeutics by 10.9% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,850 shares of the biotechnology company’s stock valued at $3,453,000 after purchasing an additional 238,659 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth $26,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.