Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Given Average Recommendation of “Buy” by Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has earned an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One 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 twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.50.

A number of brokerages recently weighed in on ACRS. Wedbush increased their price target on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a research report on Thursday, March 19th. Piper Sandler upped their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Guggenheim started coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 target price on the stock.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total value of $1,359,000.00. Following the transaction, the insider directly owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACRS. Bank of New York Mellon Corp raised its holdings in Aclaris Therapeutics by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company’s stock worth $776,000 after purchasing an additional 3,507 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Aclaris Therapeutics by 2.2% during the 3rd quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company’s stock worth $539,000 after buying an additional 6,217 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Aclaris Therapeutics by 7.4% during the 3rd quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company’s stock worth $173,000 after buying an additional 6,271 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Aclaris Therapeutics by 45.4% in the 4th quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 6,734 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of Aclaris Therapeutics by 19.8% in the fourth quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company’s stock valued at $140,000 after buying an additional 7,702 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Aclaris Therapeutics Stock Down 4.3%

NASDAQ:ACRS opened at $5.36 on Friday. The company has a market capitalization of $748.58 million, a PE ratio of -9.57 and a beta of 0.76. Aclaris Therapeutics has a 52-week low of $1.46 and a 52-week high of $5.85. The stock’s 50 day moving average price is $4.83 and its 200 day moving average price is $4.02.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. As a group, sell-side analysts anticipate that Aclaris Therapeutics will post -0.65 EPS for the current fiscal 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.