Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Up 8.4% – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price traded up 8.4% during mid-day trading on Monday . The stock traded as high as $4.84 and last traded at $4.88. 709,843 shares were traded during trading, a decline of 62% from the average session volume of 1,887,893 shares. The stock had previously closed at $4.50.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group set a $10.00 price objective on shares of Aclaris Therapeutics in a research report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Lifesci Capital assumed coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Oppenheimer assumed coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aclaris Therapeutics has a consensus rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Trading Up 0.8%

The stock has a market cap of $692.29 million, a P/E ratio of -8.82 and a beta of 0.76. The company’s fifty day simple moving average is $4.47 and its 200-day simple moving average is $3.75.

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

Insider Buying and Selling at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the sale, the insider directly owned 13,950,000 shares in the company, valued at approximately $63,193,500. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Several institutional investors have recently bought and sold shares of ACRS. Bank of America Corp DE grew its position in Aclaris Therapeutics by 23.3% in the first quarter. Bank of America Corp DE now owns 79,539 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 15,018 shares during the period. Rock Springs Capital Management LP boosted its stake in shares of Aclaris Therapeutics by 0.4% in the 1st 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 in the last quarter. Kalehua Capital Management LLC acquired a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at $6,871,000. Sei Investments Co. acquired a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at $814,000. Finally, Monashee Investment Management LLC bought a new stake in shares of Aclaris Therapeutics in the 1st quarter worth about $1,875,000. Institutional investors and hedge funds 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.