Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Down 6.2% - Should You Sell?

Key Points

• Aclaris Therapeutics shares fell 6.2% to about $6.12 in midday trading, while trading volume was 57% below its average.
• Despite the decline, analysts remain broadly optimistic: the stock has an average “Buy” rating and an average price target of $11.50, with recent targets ranging from $10 to $13.
• The company exceeded quarterly expectations with an adjusted loss of $0.15 per share versus estimates of $0.16 and revenue of $1.63 million, but it remains unprofitable with a negative net margin and analysts forecasting a full-year loss.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report)'s stock price was down 6.2% on Wednesday . The company traded as low as $6.11 and last traded at $6.1240. Approximately 838,800 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,931,577 shares. The stock had previously closed at $6.53.

Analyst Ratings Changes

ACRS has been the subject of a number of research analyst reports. Wedbush raised their price objective on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Piper Sandler boosted their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $13.00 target price for the company. Guggenheim started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They set a "buy" rating and a $12.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $11.50.

Aclaris Therapeutics Stock Performance

The company has a market cap of $855.00 million, a P/E ratio of -10.53 and a beta of 0.78. The firm has a 50 day moving average price of $5.55 and a two-hundred day moving average price of $4.53.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.01. The business 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%. On average, sell-side analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Aclaris Therapeutics by 409.0% during the 1st quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company's stock valued at $87,000 after acquiring an additional 45,864 shares during the period. Millennium Management LLC boosted its holdings in shares of Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company's stock worth $6,325,000 after acquiring an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Aclaris Therapeutics by 29.7% in the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company's stock valued at $851,000 after purchasing an additional 127,366 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company's stock valued at $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Aclaris Therapeutics by 25.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company's stock valued at $886,000 after purchasing an additional 125,071 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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