Aclaris Therapeutics (NASDAQ:ACRS) Posts Earnings Results, Beats Expectations By $0.01 EPS

Aclaris Therapeutics (NASDAQ:ACRS) posted its earnings results on Thursday. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01, FiscalAI reports. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. The firm had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.24 million.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock traded up $0.08 during trading hours on Thursday, hitting $4.86. The company had a trading volume of 1,135,672 shares, compared to its average volume of 1,366,799. The firm has a market cap of $678.75 million, a P/E ratio of -9.17 and a beta of 0.76. Aclaris Therapeutics has a 1 year low of $1.16 and a 1 year high of $4.89. The company has a 50-day moving average price of $3.83 and a two-hundred day moving average price of $3.26.

Analyst Ratings Changes

A number of equities analysts recently commented on ACRS shares. UBS Group set a $10.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Piper Sandler lifted their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday. Craig Hallum started coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They set a “buy” rating and a $10.00 price target for the company. Guggenheim started coverage on shares of Aclaris Therapeutics in a research note on Tuesday. They set a “buy” rating and a $12.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, five have given 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 “Buy” and a consensus target price of $11.00.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’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 $63,193,500. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Kotler Kevin bought a new stake in shares of Aclaris Therapeutics in the 4th quarter valued at about $5,135,000. Palo Alto Investors LP raised its holdings in shares of Aclaris Therapeutics by 12.7% in the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock valued at $2,977,000 after purchasing an additional 176,812 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Aclaris Therapeutics by 35.3% in the 4th quarter. State Street Corp now owns 1,506,403 shares of the biotechnology company’s stock valued at $4,534,000 after purchasing an additional 393,257 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other 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.