Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Average Rating of "Buy" by Brokerages

Key Points

• Analyst consensus is “Buy”: Of nine brokerages covering Aclaris Therapeutics, five rate it Buy, three Strong Buy, and one Sell. The average 12-month price target is $11.33, compared with the stock’s recent price of $6.17.
• Institutional ownership is high: Hedge funds and other institutional investors own 98.34% of Aclaris shares, with several firms recently initiating or increasing positions.
• Quarterly results modestly exceeded expectations: Aclaris reported a quarterly loss of $0.15 per share versus the expected $0.16 loss, while revenue of $1.63 million topped the $1.38 million consensus estimate.

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) have earned an average rating of "Buy" from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.3333.

A number of research firms have recently commented on ACRS. Lifesci Capital started coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $13.00 price objective on the stock. Wall Street Zen raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Finally, Canaccord Genuity Group began coverage on shares of Aclaris Therapeutics in a research report on Tuesday. They issued a "buy" rating and a $10.00 price target on the stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently made changes to their positions in ACRS. XTX Topco Ltd acquired a new stake in Aclaris Therapeutics during the second quarter valued at approximately $34,000. California State Teachers Retirement System grew its position in 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 worth $36,000 after buying an additional 1,833 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Aclaris Therapeutics in the second quarter worth approximately $48,000. BNP Paribas Financial Markets increased 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 valued at $51,000 after buying an additional 9,894 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Aclaris Therapeutics in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $6.17 on Friday. Aclaris Therapeutics has a 12-month low of $1.74 and a 12-month high of $6.60. The stock has a market capitalization of $862.71 million, a PE ratio of -10.64 and a beta of 0.79. The firm has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $4.67.

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

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.