Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 7.5% – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price was up 7.5% during mid-day trading on Thursday. The stock traded as high as $3.62 and last traded at $3.6550. 2,904,926 shares changed hands during trading, an increase of 37% from the average daily volume of 2,125,028 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

ACRS has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Canaccord Genuity Group started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $10.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Aclaris Therapeutics presently has an average rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Stock Performance

The stock has a market cap of $532.02 million, a P/E ratio of -6.49 and a beta of 0.87. The stock’s fifty day moving average is $5.64 and its 200 day moving average is $4.98.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company 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%. Equities research analysts predict that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current year.

Institutional Trading of Aclaris Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth about $58,000. Strs Ohio purchased a new position in shares of Aclaris Therapeutics during the first quarter valued at approximately $60,000. Legal & General Group Plc purchased a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $61,000. SG Americas Securities LLC grew its stake in shares of Aclaris Therapeutics by 73.6% during the first quarter. SG Americas Securities LLC now owns 26,767 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 11,344 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $104,000. 98.34% of the stock is currently owned by institutional investors.

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.