Aclaris Therapeutics (NASDAQ:ACRS) Trading 4.7% Higher - What's Next?

Key Points

• Aclaris Therapeutics shares rose 4.7% to about $6.20 in mid-day trading, although volume was 79% below the average session level.
• Analysts remain broadly optimistic, with a consensus rating of “Buy” and an average price target of $11.50; recent targets range from $10 to $13, despite one “Sell” rating.
• The company modestly beat quarterly expectations, reporting a loss of $0.15 per share versus the expected $0.16 loss and revenue of $1.63 million. However, it continues to face steep losses, including a negative net margin of 921.50%.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report)'s stock price was up 4.7% on Tuesday . The stock traded as high as $6.16 and last traded at $6.1980. Approximately 400,011 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,923,204 shares. The stock had previously closed at $5.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Wall Street Zen raised shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Wedbush lifted their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Piper Sandler boosted their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Finally, Lifesci Capital initiated coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an "outperform" rating and a $13.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned 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 price target of $11.50.

Aclaris Therapeutics Trading Up 2.5%

The company has a market cap of $848.71 million, a P/E ratio of -10.47 and a beta of 0.78. The company's fifty day moving average is $5.30 and its 200 day moving average is $4.41.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. Analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Aclaris Therapeutics in the 2nd quarter worth approximately $34,000. R Squared Ltd purchased a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $37,000. The Manufacturers Life Insurance Company bought a new position in shares of Aclaris Therapeutics in the second quarter worth approximately $48,000. BNP Paribas Financial Markets grew its holdings in shares of Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 9,894 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Aclaris Therapeutics in the fourth quarter worth $52,000. 98.34% of the stock is currently owned by hedge funds and other 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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