Aclaris Therapeutics’ (ACRS) Buy Rating Reaffirmed at HC Wainwright

Aclaris Therapeutics (NASDAQ:ACRS)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $16.00 target price on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential upside of 337.76% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.75.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock traded down $0.22 during trading on Wednesday, hitting $3.66. The company had a trading volume of 46,999 shares, compared to its average volume of 3,350,776. Aclaris Therapeutics has a one year low of $1.05 and a one year high of $4.89. The stock’s 50-day moving average price is $3.05 and its 200 day moving average price is $2.32. The firm has a market capitalization of $396.02 million, a P/E ratio of -2.65 and a beta of 0.41.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. The business had revenue of $3.30 million during the quarter, compared to the consensus estimate of $1.59 million. Aclaris Therapeutics had a negative net margin of 900.01% and a negative return on equity of 39.73%. On average, research analysts anticipate that Aclaris Therapeutics will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently made changes to their positions in ACRS. Millennium Management LLC raised its stake in Aclaris Therapeutics by 111.0% in the first 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 increased its stake in 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 worth $3,501,000 after purchasing an additional 1,282,042 shares during the period. Acadian Asset Management LLC raised its holdings in Aclaris Therapeutics by 10.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,433,850 shares of the biotechnology company’s stock valued at $3,453,000 after buying an additional 238,659 shares during the last quarter. Palo Alto Investors LP grew its stake in shares of Aclaris Therapeutics by 12.7% in the third quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock worth $2,977,000 after purchasing an additional 176,812 shares during the last quarter. Finally, Citadel Advisors LLC raised its holdings in Aclaris Therapeutics by 25.3% in the 3rd quarter. Citadel Advisors LLC now owns 1,432,677 shares of the biotechnology company’s stock worth $2,722,000 after purchasing an additional 288,871 shares in the last quarter. 98.34% of the stock is currently 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.