Aclaris Therapeutics (NASDAQ:ACRS) Trading Down 5.3% - Time to Sell?

Key Points

• Aclaris Therapeutics shares fell 5.3% to about $5.24, with trading volume roughly 71% below the average daily level.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and an average price target of $11.33, more than double its trading price, despite one “Sell” rating.
• The company beat quarterly EPS and revenue estimates, but remains unprofitable, with a negative net margin of 921.5%; institutional investors own approximately 98.34% of the shares.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) shares traded down 5.3% during trading on Wednesday . The stock traded as low as $5.23 and last traded at $5.2350. Approximately 568,695 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,955,398 shares. The stock had previously closed at $5.53.

Analyst Ratings Changes

A number of research analysts have weighed in on ACRS shares. Lifesci Capital initiated coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an "outperform" rating and a $13.00 target price on the stock. Canaccord Genuity Group assumed coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They set a "buy" rating and a $10.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $11.33.

Aclaris Therapeutics Stock Performance

The company has a market capitalization of $731.96 million, a PE ratio of -9.03 and a beta of 0.79. The business's 50-day moving average is $5.80 and its 200-day moving average is $4.80.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. Analysts expect that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Aclaris Therapeutics during the second quarter valued at $53,096,000. Kalehua Capital Management LLC bought a new stake in Aclaris Therapeutics in the 1st quarter worth about $6,871,000. Palo Alto Investors LP purchased a new position in Aclaris Therapeutics in the 2nd quarter worth about $8,535,045. Connor Clark & Lunn Investment Management Ltd. bought a new position in Aclaris Therapeutics during the 2nd quarter valued at about $6,400,000. Finally, Deutsche Bank AG purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter valued at about $5,507,000. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc NASDAQ: ACRS is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company's research programs are centered on potentially addressing conditions in which existing treatments have limited effectiveness or tolerability.

Aclaris has developed a pipeline that has included zunsemetinib, an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being studied for inflammatory diseases, and other small-molecule therapies targeting immune and inflammatory pathways.

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