Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 7.9% - Still a Buy?

Key Points

• Aclaris Therapeutics shares rose 7.9% to about $3.76 in midday trading, though volume was 76% below the average session level.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and an $11.33 price target, despite downgrades from Wall Street Zen and Weiss Ratings to “Sell.”
• The clinical-stage biotech reported better-than-expected quarterly results, but remains unprofitable with a negative net margin; institutional investors own approximately 98.34% of its shares.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report)'s share price shot up 7.9% during mid-day trading on Tuesday. The company traded as high as $3.76 and last traded at $3.7560. Approximately 519,874 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,180,576 shares. The stock had previously closed at $3.48.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACRS shares. Wall Street Zen downgraded shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Canaccord Genuity Group began coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Three equities research 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. According to MarketBeat, Aclaris Therapeutics currently has an average rating of "Buy" and an average target price of $11.33.

Aclaris Therapeutics Stock Up 5.3%

The business's 50-day simple moving average is $5.28 and its 200-day simple moving average is $4.97. The stock has a market cap of $512.44 million, a PE ratio of -6.32 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.38 million. As a group, equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Aclaris Therapeutics during the second quarter worth about $53,096,000. Kalehua Capital Management LLC acquired a new stake in shares of Aclaris Therapeutics in the first quarter worth approximately $6,871,000. Palo Alto Investors LP purchased a new position in Aclaris Therapeutics in the 2nd quarter worth approximately $8,535,045. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at approximately $6,400,000. Finally, Deutsche Bank AG acquired a new stake in shares of Aclaris Therapeutics during the second quarter valued at about $5,507,000. 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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