Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received a consensus rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.50.

A number of research analysts have recently issued reports on ACRS shares. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research report on Thursday, March 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Piper Sandler increased their target price on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. UBS Group set a $10.00 price objective on Aclaris Therapeutics in a research note on Thursday, April 16th. Finally, Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Insider Buying and Selling

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the transaction, the insider directly owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rock Springs Capital Management LP raised its stake in Aclaris Therapeutics by 0.4% in the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock valued at $16,772,000 after purchasing an additional 18,909 shares during the last quarter. Millennium Management LLC raised its stake in Aclaris Therapeutics by 111.0% in 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 last quarter. Geode Capital Management LLC raised its stake in Aclaris Therapeutics by 108.4% in 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 last quarter. Kalehua Capital Management LLC acquired a new position in Aclaris Therapeutics in the 1st quarter valued at $6,871,000. Finally, Kotler Kevin acquired a new position in Aclaris Therapeutics in the 4th quarter valued at $5,135,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Price Performance

Shares of NASDAQ:ACRS opened at $4.42 on Thursday. Aclaris Therapeutics has a 1 year low of $1.34 and a 1 year high of $5.15. The firm has a market capitalization of $617.30 million, a price-to-earnings ratio of -7.89 and a beta of 0.76. The business’s 50 day moving average price is $4.29 and its 200-day moving average price is $3.57.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%.The firm had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.32 million. On average, sell-side analysts expect that Aclaris Therapeutics will post -0.62 earnings per share for the current year.

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.