Aclaris Therapeutics (NASDAQ:ACRS) Sets New 12-Month High – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) hit a new 52-week high during trading on Tuesday . The company traded as high as $5.20 and last traded at $5.1450, with a volume of 1116777 shares traded. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACRS. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 target price for the company. Oppenheimer started coverage on shares of Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research report on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Finally, UBS Group set a $10.00 price target on Aclaris Therapeutics in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Aclaris Therapeutics presently has an average rating of “Buy” and a consensus price target of $11.50.

Aclaris Therapeutics Price Performance

The firm has a market cap of $729.72 million, a price-to-earnings ratio of -9.35 and a beta of 0.76. The business has a fifty day simple moving average of $4.55 and a 200 day simple moving average of $3.80.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. On average, research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the 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 in the company, valued at $63,193,500. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is owned by company insiders.

Institutional Trading of Aclaris Therapeutics

Large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Aclaris Therapeutics by 23.3% in the 1st quarter. Bank of America Corp DE now owns 79,539 shares of the biotechnology company’s stock worth $298,000 after purchasing an additional 15,018 shares in the last quarter. Rock Springs Capital Management LP lifted its position in Aclaris Therapeutics by 0.4% during 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 buying an additional 18,909 shares in the last quarter. Kalehua Capital Management LLC purchased a new position in Aclaris Therapeutics during the first quarter worth approximately $6,871,000. Sei Investments Co. acquired a new position in Aclaris Therapeutics during the first quarter worth $814,000. Finally, Monashee Investment Management LLC purchased a new stake in Aclaris Therapeutics in the 1st quarter valued at $1,875,000. Hedge funds and other 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.