Wedbush Reiterates Outperform Rating for Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics (NASDAQ:ACRS)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report released on Tuesday,Benzinga reports. They currently have a $8.00 target price on the biotechnology company’s stock. Wedbush’s target price would suggest a potential upside of 93.24% from the stock’s current price.

Several other brokerages have also commented on ACRS. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Friday, March 27th. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research report on Thursday, March 19th. Wall Street Zen cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Craig Hallum assumed coverage on shares of Aclaris Therapeutics in a report on Friday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $4.14 on Tuesday. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.89. The stock has a market cap of $499.28 million, a P/E ratio of -7.81 and a beta of 0.66. The firm’s fifty day moving average price is $3.49 and its 200-day moving average price is $2.86.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. Sell-side analysts predict that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Institutional Trading of Aclaris Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP purchased a new position in shares of Aclaris Therapeutics during the fourth quarter worth approximately $323,000. Invesco Ltd. boosted its stake in shares of Aclaris Therapeutics by 29.2% in the 4th quarter. Invesco Ltd. now owns 209,903 shares of the biotechnology company’s stock valued at $632,000 after purchasing an additional 47,440 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Aclaris Therapeutics by 76.6% during the 4th quarter. XTX Topco Ltd now owns 112,912 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 48,987 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Aclaris Therapeutics during the 4th quarter valued at $796,000. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in Aclaris Therapeutics in the 4th quarter worth $120,000. 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.