Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 7.5% - What's Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report)'s share price was up 7.5% during mid-day trading on Thursday. The stock traded as high as $3.62 and last traded at $3.6550. 2,904,926 shares changed hands during trading, an increase of 37% from the average daily volume of 2,125,028 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

ACRS has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Canaccord Genuity Group started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, September 1st. They set a "buy" rating and a $10.00 target price for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Aclaris Therapeutics presently has an average rating of "Buy" and a consensus target price of $11.33.

Aclaris Therapeutics Stock Performance

The stock has a market cap of $532.02 million, a P/E ratio of -6.49 and a beta of 0.87. The stock's fifty day moving average is $5.64 and its 200 day moving average is $4.98.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.63 million for the quarter, compared to analysts' expectations of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. Equities research analysts predict that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current year.

Institutional Trading of Aclaris Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth about $58,000. Strs Ohio purchased a new position in shares of Aclaris Therapeutics during the first quarter valued at approximately $60,000. Legal & General Group Plc purchased a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $61,000. SG Americas Securities LLC grew its stake in shares of Aclaris Therapeutics by 73.6% during the first quarter. SG Americas Securities LLC now owns 26,767 shares of the biotechnology company's stock valued at $100,000 after buying an additional 11,344 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $104,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Company Profile

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.

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.