Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Down 6% – Should You Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) traded down 6% during trading on Friday . The company traded as low as $5.75 and last traded at $5.7230. 916,115 shares traded hands during trading, a decline of 53% from the average daily volume of 1,956,714 shares. The stock had previously closed at $6.09.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACRS shares. Oppenheimer began coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They set an “outperform” rating and a $10.00 price objective on the stock. Guggenheim initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 target price for the company. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Lifesci Capital assumed coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target on the stock. Three investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Price Performance

The stock has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $4.33. The stock has a market cap of $825.39 million, a PE ratio of -10.19 and a beta of 0.78.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.94% and a negative net margin of 921.50%. As a group, equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACRS. BlackRock Inc. purchased a new stake in Aclaris Therapeutics during the 2nd quarter worth $53,096,000. Millennium Management LLC increased its holdings 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 in the last quarter. Kalehua Capital Management LLC purchased a new position in Aclaris Therapeutics in the first quarter valued at about $6,871,000. Kotler Kevin purchased a new position in Aclaris Therapeutics in the fourth quarter valued at about $5,135,000. Finally, Geode Capital Management LLC raised its position in Aclaris Therapeutics by 108.4% in the second 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. 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.