Aclaris Therapeutics (NASDAQ:ACRS) Trading 4.7% Higher – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price traded up 4.7% during mid-day trading on Tuesday . The company traded as high as $6.16 and last traded at $6.1980. Approximately 400,011 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,923,204 shares. The stock had previously closed at $5.92.

Analyst Ratings Changes

ACRS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Guggenheim assumed coverage on Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target for the company. Piper Sandler increased their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Lifesci Capital started coverage on Aclaris Therapeutics in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Stock Up 2.5%

The business has a fifty day simple moving average of $5.30 and a 200-day simple moving average of $4.41. The firm has a market cap of $848.71 million, a P/E ratio of -10.47 and a beta of 0.78.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The company had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.38 million. On average, sell-side analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. bought a new stake in Aclaris Therapeutics in the 1st quarter worth approximately $814,000. Dimensional Fund Advisors LP lifted its holdings in shares of Aclaris Therapeutics by 88.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company’s stock valued at $1,914,000 after buying an additional 240,611 shares during the period. Kalehua Capital Management LLC bought a new position in shares of Aclaris Therapeutics during the 1st quarter valued at $6,871,000. Monashee Investment Management LLC purchased a new position in shares of Aclaris Therapeutics in the 1st quarter worth $1,875,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Aclaris Therapeutics in the second quarter worth $171,000. 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.