Aclaris Therapeutics (NASDAQ:ACRS) Sets New 1-Year High - Still a Buy?

Key Points

• Aclaris Therapeutics shares reached a new 52-week high of $5.88, up from a previous close of $5.53, giving the company a market capitalization of approximately $833 million.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a consensus price target of $11.50, although ratings range from “Strong Buy” to “Sell.”
• The company exceeded quarterly expectations with a loss of $0.15 per share versus the forecasted $0.16 loss and revenue of $2 million, but it continues to report substantial negative margins and return on equity.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $5.88 and last traded at $5.8750, with a volume of 600057 shares. The stock had previously closed at $5.53.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Wedbush increased their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. 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. Finally, Oppenheimer initiated coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They set an "outperform" rating and a $10.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $11.50.

Aclaris Therapeutics Price Performance

The company has a market capitalization of $833.07 million, a price-to-earnings ratio of -10.76 and a beta of 0.78. The stock has a 50 day simple moving average of $5.01 and a two-hundred day simple moving average of $4.24.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its quarterly earnings data 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 return on equity of 55.89% and a negative net margin of 832.58%.The business had revenue of $2.00 million during the quarter, compared to analysts' expectations of $1.32 million. Equities research analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACRS. Invesco Ltd. raised its holdings in Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company's stock worth $87,000 after purchasing an additional 45,864 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company's stock valued at $6,325,000 after buying an additional 2,175,101 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company's stock valued at $851,000 after buying an additional 127,366 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company's stock valued at $3,501,000 after buying an additional 1,282,042 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Aclaris Therapeutics by 25.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company's stock worth $886,000 after acquiring an additional 125,071 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.