Aclaris Therapeutics (NASDAQ:ACRS) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Aclaris Therapeutics beat quarterly expectations: The biotech reported an adjusted loss of $0.15 per share, $0.01 better than estimates, while revenue of $1.63 million exceeded the $1.38 million consensus.
• The company remains unprofitable, with a negative net margin of 832.58% and negative return on equity of 55.89%. Shares traded at $6.09 after declining $0.27, despite reaching as high as $6.51 over the past year.
• Analyst sentiment is broadly positive: Aclaris has an average “Buy” rating and a consensus price target of $11.50, while institutional investors own 98.34% of the stock.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01, FiscalAI reports. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million.

Aclaris Therapeutics Stock Performance

ACRS stock traded down $0.27 during trading on Thursday, hitting $6.09. 2,821,480 shares of the company's stock traded hands, compared to its average volume of 2,048,408. The business has a fifty day simple moving average of $5.10 and a 200 day simple moving average of $4.31. The stock has a market capitalization of $850.53 million, a price-to-earnings ratio of -10.87 and a beta of 0.78. Aclaris Therapeutics has a 52 week low of $1.52 and a 52 week high of $6.51.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in Aclaris Therapeutics by 82.8% during the 4th quarter. Quadrature Capital Ltd now owns 57,670 shares of the biotechnology company's stock valued at $174,000 after buying an additional 26,117 shares in the last quarter. Man Group plc acquired a new stake in Aclaris Therapeutics in the fourth quarter worth about $128,000. Intech Investment Management LLC grew its stake in shares of Aclaris Therapeutics by 19.8% during the fourth quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company's stock worth $140,000 after acquiring an additional 7,702 shares during the last quarter. Algert Global LLC grew its stake in shares of Aclaris Therapeutics by 64.7% during the third quarter. Algert Global LLC now owns 65,630 shares of the biotechnology company's stock worth $125,000 after acquiring an additional 25,780 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Aclaris Therapeutics by 7.4% during the third quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company's stock valued at $173,000 after acquiring an additional 6,271 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ACRS has been the subject of a number of analyst reports. UBS Group set a $10.00 price target on Aclaris Therapeutics in a research note on Thursday, April 16th. Guggenheim initiated coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a "buy" rating and a $12.00 price objective for the company. Oppenheimer began coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They set an "outperform" rating and a $10.00 target price for the company. Wall Street Zen raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Aclaris Therapeutics presently has an average rating of "Buy" and a consensus target price of $11.50.

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.

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