Palo Alto Investors LP Purchases 206,196 Shares of Aclaris Therapeutics, Inc. $ACRS

Palo Alto Investors LP grew its position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 36.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 776,028 shares of the biotechnology company’s stock after acquiring an additional 206,196 shares during the quarter. Palo Alto Investors LP owned 0.72% of Aclaris Therapeutics worth $1,187,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ACRS. Invesco Ltd. bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth approximately $28,000. Graham Capital Management L.P. bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth approximately $35,000. Alpine Global Management LLC bought a new stake in shares of Aclaris Therapeutics in the 4th quarter worth approximately $38,000. Cannon Global Investment Management LLC bought a new stake in shares of Aclaris Therapeutics in the 1st quarter worth approximately $57,000. Finally, Algert Global LLC bought a new stake in shares of Aclaris Therapeutics in the 1st quarter worth approximately $61,000. Institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $1.93 on Tuesday. The company has a market capitalization of $209.08 million, a PE ratio of -1.41 and a beta of 0.27. Aclaris Therapeutics, Inc. has a one year low of $1.05 and a one year high of $5.17. The business has a 50 day simple moving average of $1.63 and a 200 day simple moving average of $1.54.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). Aclaris Therapeutics had a negative return on equity of 34.01% and a negative net margin of 802.03%.The business had revenue of $1.78 million during the quarter, compared to the consensus estimate of $1.34 million. Equities analysts anticipate that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ACRS shares. Wedbush reiterated an “outperform” rating and issued a $8.00 price objective on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research report on Wednesday, June 25th. Scotiabank cut their target price on Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating for the company in a research report on Friday, May 9th. Finally, Piper Sandler began coverage on Aclaris Therapeutics in a research report on Thursday, July 10th. They set an “overweight” rating and a $6.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.71.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.