Lifesci Capital Begins Coverage on Aclaris Therapeutics (NASDAQ:ACRS)

Analysts at Lifesci Capital started coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note issued on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $13.00 price target on the biotechnology company’s stock. Lifesci Capital’s price target would indicate a potential upside of 179.27% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wedbush lifted their price target on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. UBS Group set a $10.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Finally, Oppenheimer started coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They set an “outperform” rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Stock Up 7.3%

ACRS stock traded up $0.32 during midday trading on Tuesday, hitting $4.66. The company’s stock had a trading volume of 2,228,380 shares, compared to its average volume of 1,092,366. Aclaris Therapeutics has a 52-week low of $1.34 and a 52-week high of $5.15. The firm has a market capitalization of $650.14 million, a P/E ratio of -7.85 and a beta of 0.76. The firm has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $3.54.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results 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 company had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.32 million. On average, sell-side analysts expect that Aclaris Therapeutics will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of Aclaris Therapeutics stock in a transaction on 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 transaction, the insider directly owned 13,950,000 shares in the company, valued at approximately $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rock Springs Capital Management LP increased its stake in 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 valued at $16,772,000 after purchasing an additional 18,909 shares during the period. Millennium Management LLC increased 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 during the period. Geode Capital Management LLC increased its stake in Aclaris Therapeutics by 108.4% in the second 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 during the period. Kalehua Capital Management LLC acquired a new position in Aclaris Therapeutics in the first quarter valued at $6,871,000. Finally, Kotler Kevin acquired a new position in Aclaris Therapeutics in the fourth quarter valued at $5,135,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.