Aclaris Therapeutics (NASDAQ:ACRS) Stock Crosses Above 50-Day Moving Average – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.80 and traded as high as $5.65. Aclaris Therapeutics shares last traded at $5.43, with a volume of 832,208 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ACRS shares. Lifesci Capital assumed coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price objective for the company. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a report on Thursday, April 16th. 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. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Buy” and an average target price of $11.50.

Aclaris Therapeutics Stock Down 1.3%

The company has a market capitalization of $758.35 million, a P/E ratio of -9.70 and a beta of 0.76. The business’s 50-day moving average is $4.80 and its two-hundred day moving average is $3.98.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $2.00 million during 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%. Analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the transaction, the insider owned 13,950,000 shares in the company, valued at $63,193,500. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Aclaris Therapeutics in the fourth quarter worth about $37,000. Strs Ohio purchased a new stake in Aclaris Therapeutics in the 1st quarter worth about $60,000. CIBC Asset Management Inc purchased a new stake in Aclaris Therapeutics in the 4th quarter worth about $52,000. China Universal Asset Management Co. Ltd. bought a new stake in Aclaris Therapeutics in the 4th quarter valued at about $53,000. Finally, ProShare Advisors LLC lifted its holdings in Aclaris Therapeutics by 45.4% during the fourth quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 6,734 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.