Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Upgraded by Guggenheim

Key Points

• Guggenheim upgraded Aclaris Therapeutics (NASDAQ:ACRS) to a "strong‑buy", and the stock carries a consensus Buy rating with an average price target of $11.00.
• Shares opened at $4.75 with a market cap around $663M, and the company reported a recent quarter that missed revenue and EPS (EPS −$0.16 vs. −$0.15 est.), maintaining a negative net margin and forecasted FY EPS of −0.63.
• Major shareholder Braden Michael Leonard sold 300,000 shares for about $1.36M; insiders own 5.6% while institutional investors hold roughly 98.34% of the stock.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) was upgraded by investment analysts at Guggenheim to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

ACRS has been the topic of several other reports. Wall Street Zen downgraded Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, April 12th. Piper Sandler increased their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. UBS Group set a $10.00 price target on shares of Aclaris Therapeutics in a report on Thursday, April 16th. Finally, Craig Hallum began coverage on Aclaris Therapeutics in a research note on Friday, January 30th. They issued a "buy" rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $11.00.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $4.75 on Monday. Aclaris Therapeutics has a one year low of $1.16 and a one year high of $4.89. The stock has a market capitalization of $663.39 million, a price-to-earnings ratio of -8.96 and a beta of 0.76. The company has a 50-day simple moving average of $3.77 and a 200-day simple moving average of $3.22.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The company had revenue of $1.30 million for the quarter, compared to analysts' expectations of $2.07 million. Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%. As a group, research analysts forecast that Aclaris Therapeutics will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the sale, the insider owned 13,950,000 shares of the company's stock, valued at approximately $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Aclaris Therapeutics by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company's stock worth $1,441,000 after purchasing an additional 134,784 shares during the period. AXQ Capital LP purchased a new position in Aclaris Therapeutics in the third quarter valued at about $27,000. Bank of New York Mellon Corp grew its position in shares of Aclaris Therapeutics by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company's stock worth $776,000 after buying an additional 3,507 shares in the last quarter. SG Americas Securities LLC grew its holdings in Aclaris Therapeutics by 73.6% during the 1st quarter. SG Americas Securities LLC now owns 26,767 shares of the biotechnology company's stock worth $100,000 after acquiring an additional 11,344 shares in the last quarter. Finally, Strs Ohio acquired a new position in Aclaris Therapeutics in the first quarter worth about $60,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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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