Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Recommendation of “Buy” from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.50.

Several analysts have issued reports on the company. Lifesci Capital initiated coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 target price for the company. Guggenheim assumed coverage on Aclaris Therapeutics in a report on Tuesday, May 5th. They set a “buy” rating and a $12.00 target price for the company. Piper Sandler lifted their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $5.69 on Friday. The firm has a market cap of $794.67 million, a PE ratio of -10.16 and a beta of 0.76. The business’s 50 day moving average price is $4.87 and its two-hundred day moving average price is $4.07. Aclaris Therapeutics has a 52-week low of $1.46 and a 52-week high of $5.88.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The firm had revenue of $2.00 million during the quarter, compared to analyst estimates of $1.32 million. Research analysts predict that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the sale, the insider directly owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Aclaris Therapeutics by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company’s stock worth $1,441,000 after acquiring an additional 134,784 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Aclaris Therapeutics by 88.8% in the first quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company’s stock worth $1,914,000 after acquiring an additional 240,611 shares during the last quarter. Rock Springs Capital Management LP grew its stake in shares of Aclaris Therapeutics by 0.4% in the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after acquiring an additional 18,909 shares during the last quarter. Kalehua Capital Management LLC bought a new position in shares of Aclaris Therapeutics during the first quarter valued at $6,871,000. Finally, Monashee Investment Management LLC bought a new position in shares of Aclaris Therapeutics during the first quarter valued at $1,875,000. Institutional investors 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.