Aclaris Therapeutics (NASDAQ:ACRS) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Aclaris Therapeutics from “hold” to “sell,” despite the broader analyst consensus remaining “Buy” with an average price target of $11.33.
• Aclaris shares opened at $4.39, below their 50-day and 200-day moving averages, and have traded between $1.74 and $6.60 over the past year.
• The clinical-stage biotech slightly exceeded quarterly earnings expectations, reporting a loss of $0.15 per share and $1.63 million in revenue, but continues to face substantial losses and negative profitability metrics.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms also recently commented on ACRS. Canaccord Genuity Group initiated coverage on Aclaris Therapeutics in a research note on Tuesday, September 1st. They issued a "buy" rating and a $10.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Three investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $11.33.

Aclaris Therapeutics Stock Down 0.5%

Shares of NASDAQ ACRS opened at $4.39 on Friday. The firm has a market cap of $613.83 million, a price-to-earnings ratio of -7.57 and a beta of 0.87. The company's 50-day simple moving average is $5.73 and its 200-day simple moving average is $4.97. Aclaris Therapeutics has a 52-week low of $1.74 and a 52-week high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released 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 firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. Equities research analysts anticipate that Aclaris Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Aclaris Therapeutics by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company's stock worth $776,000 after purchasing an additional 3,507 shares during the last quarter. AXQ Capital LP increased its holdings in shares of Aclaris Therapeutics by 73.1% in the 4th quarter. AXQ Capital LP now owns 24,186 shares of the biotechnology company's stock valued at $73,000 after acquiring an additional 10,217 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Aclaris Therapeutics by 4.0% during the 2nd quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company's stock worth $1,415,000 after acquiring an additional 10,342 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Aclaris Therapeutics during the second quarter worth approximately $58,000. Finally, SG Americas Securities LLC lifted its position in shares of 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 buying an additional 11,344 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company's research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris' lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.

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