Aclaris Therapeutics (NASDAQ:ACRS) Hits New 1-Year High – Should You Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.15 and last traded at $4.9450, with a volume of 30986 shares. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ACRS shares. Craig Hallum started coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler raised their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Finally, Oppenheimer started coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $11.29.

Aclaris Therapeutics Trading Down 5.8%

The company has a market cap of $631.26 million, a PE ratio of -8.07 and a beta of 0.76. The company’s 50 day moving average is $4.04 and its 200 day moving average is $3.37.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. Analysts expect that Aclaris Therapeutics, Inc. will post -0.63 EPS for the current year.

Insider Buying and Selling

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the transaction, the insider owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACRS. Millennium Management LLC increased its position in Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares during the period. Kalehua Capital Management LLC purchased a new position in Aclaris Therapeutics during the 1st quarter valued at about $6,871,000. Kotler Kevin purchased a new position in Aclaris Therapeutics during the 4th quarter valued at about $5,135,000. Geode Capital Management LLC increased its position in Aclaris Therapeutics by 108.4% during the 2nd 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 during the period. Finally, Ameriprise Financial Inc. purchased a new position in Aclaris Therapeutics during the 3rd quarter valued at about $2,428,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.