Aclaris Therapeutics (NASDAQ:ACRS) Shares Gap Up - Should You Buy?

Key Points

• Aclaris Therapeutics shares opened higher but later traded at $3.65, compared with a prior close of $3.79, on volume of roughly 2.9 million shares.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $11.33; however, ratings range from Strong Buy to Sell.
• The clinical-stage biotech remains financially challenged, reporting a negative net margin of 921.5% and negative return on equity, despite slightly exceeding quarterly revenue and EPS expectations. Institutional investors own 98.34% of the stock.

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) gapped up before the market opened on Tuesday. The stock had previously closed at $3.79, but opened at $3.98. Aclaris Therapeutics shares last traded at $3.65, with a volume of 2,914,705 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ACRS shares. Canaccord Genuity Group started 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. Finally, Wall Street Zen upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $11.33.

Aclaris Therapeutics Price Performance

The company's 50 day simple moving average is $5.11 and its 200 day simple moving average is $4.48. The company has a market capitalization of $514.55 million, a PE ratio of -6.44 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly 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 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 analysts' expectations of $1.38 million. On average, equities analysts forecast that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently modified their holdings of ACRS. MBE Wealth Management LLC acquired a new position in shares of Aclaris Therapeutics in the 3rd quarter valued at $53,000. Braidwell LP raised its position in shares of Aclaris Therapeutics by 26.1% in the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company's stock worth $11,333,000 after buying an additional 443,232 shares during the period. Wellington Management Group LLP raised its position in shares of Aclaris Therapeutics by 4.0% in the 2nd quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company's stock worth $1,415,000 after buying an additional 10,342 shares during the period. Palo Alto Investors LP acquired a new position in Aclaris Therapeutics in the second quarter valued at $8,535,045. Finally, Jefferies Financial Group Inc. acquired a new position in Aclaris Therapeutics in the second quarter valued at $58,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc NASDAQ: ACRS is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company's research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris' lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.

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