Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Down 6.5% - What's Next?

Key Points

• Aclaris Therapeutics shares fell 6.5% to about $4.11, with trading volume down 83% from its average.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a consensus price target of $11.33, despite recent sell downgrades; Canaccord Genuity initiated coverage with a $10 target.
• The clinical-stage biotech narrowly beat quarterly EPS and revenue estimates, but remains unprofitable with a negative net margin of 921.5%. Institutional investors own 98.34% of the company’s shares.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report)'s stock price was down 6.5% during trading on Monday. The stock traded as low as $4.15 and last traded at $4.1050. 355,336 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,045,687 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

Several research firms recently issued reports on ACRS. Wall Street Zen lowered shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. Canaccord Genuity Group began coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Three investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $11.33.

Aclaris Therapeutics Stock Performance

The business has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $4.97. The firm has a market cap of $585.15 million, a price-to-earnings ratio of -7.20 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced 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 return on equity of 61.65% and a negative net margin of 921.50%.The firm had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.38 million. On average, equities analysts anticipate that Aclaris Therapeutics, Inc. will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Aclaris Therapeutics in the second quarter valued at approximately $53,096,000. Kalehua Capital Management LLC bought a new position in Aclaris Therapeutics during the 1st quarter worth approximately $6,871,000. Palo Alto Investors LP acquired a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $8,535,045. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at $6,400,000. Finally, Deutsche Bank AG bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at $5,507,000. Institutional investors and hedge funds own 98.34% of the company's stock.

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.

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