Aclaris Therapeutics (NASDAQ:ACRS) Announces Earnings Results, Meets Estimates

Key Points

• Aclaris Therapeutics reported a quarterly earnings per share (EPS) of ($0.13), surpassing the consensus estimate of ($0.14) by $0.01, with revenues of $1.78 million compared to expectations of $1.34 million.
• The stock has been active, trading at $1.63 with a market capitalization of $176.50 million and showing a 12-month price range between $1.05 and $5.17.
• Institutional investors have significantly increased their stakes, with Millennium Management LLC boosting its ownership by 111%, now holding over 4 million shares of Aclaris Therapeutics.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13), Zacks reports. The company had revenue of $1.78 million during the quarter, compared to analysts' expectations of $1.34 million. Aclaris Therapeutics had a negative net margin of 802.03% and a negative return on equity of 33.33%.

Aclaris Therapeutics Stock Up 3.8%

Shares of ACRS stock opened at $1.63 on Friday. The company's fifty day simple moving average is $1.53 and its 200-day simple moving average is $1.62. The firm has a market cap of $176.50 million, a PE ratio of -1.19 and a beta of 0.30. Aclaris Therapeutics has a 12 month low of $1.05 and a 12 month high of $5.17.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACRS shares. Wedbush reiterated an "outperform" rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Monday, June 23rd. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, June 25th. Piper Sandler started coverage on shares of Aclaris Therapeutics in a report on Thursday, July 10th. They issued an "overweight" rating and a $6.00 price target for the company. Finally, Scotiabank reduced their price target on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.71.

Institutional Trading of Aclaris Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company's stock worth $6,325,000 after acquiring an additional 2,175,101 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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. Goldman Sachs Group Inc. raised its position in shares of Aclaris Therapeutics by 29.7% in the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company's stock valued at $851,000 after purchasing an additional 127,366 shares during the period. Finally, Invesco Ltd. raised its position in shares of Aclaris Therapeutics by 409.0% in the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company's stock valued at $87,000 after purchasing an additional 45,864 shares during the period. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.