Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Aclaris Therapeutics has an average analyst rating of "Buy" from eight brokerages, with a consensus 12-month price target of $11.50.
• Recent analyst moves have been mostly positive, including Wedbush raising its target to $10 and Lifesci Capital starting coverage with an outperform rating and a $13 target.
• The company beat quarterly earnings expectations, reporting EPS of -$0.15 versus the expected -$0.16 and revenue of $2.0 million, while institutional investors own 98.34% of the stock.

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) have earned an average recommendation of "Buy" from the eight brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.50.

A number of analysts have recently weighed in on the company. Wedbush upped their price objective on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Lifesci Capital started coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $13.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Finally, Piper Sandler lifted their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th.

Aclaris Therapeutics Price Performance

NASDAQ ACRS opened at $5.36 on Friday. The company has a market cap of $748.58 million, a P/E ratio of -9.57 and a beta of 0.76. The stock has a 50-day moving average of $4.83 and a two-hundred day moving average of $4.02. Aclaris Therapeutics has a 1-year low of $1.46 and a 1-year high of $5.85.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.00 million for the quarter, compared to analysts' expectations of $1.32 million. On average, analysts anticipate that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction 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 transaction, the insider owned 13,950,000 shares of the company's stock, valued at $63,193,500. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Aclaris Therapeutics by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company's stock valued at $1,441,000 after purchasing an additional 134,784 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Aclaris Therapeutics in the 4th quarter valued at $52,000. The Manufacturers Life Insurance Company purchased a new position in shares of Aclaris Therapeutics in the 2nd quarter valued at $48,000. Bank of New York Mellon Corp grew its position in shares of Aclaris Therapeutics by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company's stock valued at $776,000 after buying an additional 3,507 shares during the last quarter. Finally, Rock Springs Capital Management LP raised its stake in Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company's stock worth $16,772,000 after acquiring an additional 18,909 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.