Aclaris Therapeutics (NASDAQ:ACRS) Sets New 52-Week High - Time to Buy?

Key Points

• Aclaris Therapeutics shares hit a new 52-week high of $6.55, up from a previous close of $6.41. The stock’s 50-day and 200-day moving averages are $5.47 and $4.49, respectively.
• Analyst sentiment is generally positive, with an average “Buy” rating and an average price target of $11.50; targets range as high as $13.00, though Weiss Ratings maintains a sell rating.
• The company modestly beat quarterly expectations, reporting a $0.15 per-share loss versus the forecasted $0.16 loss and revenue of $1.63 million. However, it remains unprofitable, with a negative net margin of 921.5% and analysts expecting a full-year loss.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $6.55 and last traded at $6.55, with a volume of 477 shares traded. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

ACRS has been the subject of several recent research reports. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $13.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Piper Sandler lifted their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Wedbush upped their price objective on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Aclaris Therapeutics presently has an average rating of "Buy" and an average target price of $11.50.

Aclaris Therapeutics Trading Up 2.2%

The company has a fifty day moving average price of $5.47 and a two-hundred day moving average price of $4.49. The firm has a market cap of $915.82 million, a P/E ratio of -11.29 and a beta of 0.78.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. As a group, sell-side analysts expect that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several institutional investors have recently added to or reduced their stakes in ACRS. XTX Topco Ltd bought a new position in Aclaris Therapeutics during the 2nd quarter worth about $34,000. California State Teachers Retirement System lifted its holdings in shares of Aclaris Therapeutics by 36.9% in the second quarter. California State Teachers Retirement System now owns 6,798 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 1,833 shares in the last quarter. R Squared Ltd bought a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at about $37,000. The Manufacturers Life Insurance Company acquired a new position in shares of Aclaris Therapeutics during the second quarter worth about $48,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Aclaris Therapeutics by 59.0% during the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company's stock worth $51,000 after buying an additional 9,894 shares during the period. 98.34% of the stock is owned by institutional investors.

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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