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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has received a consensus recommendation of “Buy” from the eight ratings firms that are 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 issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.50.

ACRS has been the subject of several analyst reports. Piper Sandler raised 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. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday. Finally, Lifesci Capital initiated coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price objective for the company.

Insider Activity

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Aclaris Therapeutics by 23.3% during the 1st quarter. Bank of America Corp DE now owns 79,539 shares of the biotechnology company’s stock worth $298,000 after acquiring an additional 15,018 shares during the last quarter. Rock Springs Capital Management LP lifted its stake in shares of Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after acquiring an additional 18,909 shares during the last quarter. Kalehua Capital Management LLC bought a new stake in shares of Aclaris Therapeutics during the 1st quarter worth approximately $6,871,000. Sei Investments Co. bought a new stake in shares of Aclaris Therapeutics during the 1st quarter worth approximately $814,000. Finally, Monashee Investment Management LLC bought a new stake in shares of Aclaris Therapeutics during the 1st quarter worth approximately $1,875,000. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $5.00 on Monday. The firm has a market capitalization of $698.30 million, a price-to-earnings ratio of -8.93 and a beta of 0.76. Aclaris Therapeutics has a 1 year low of $1.38 and a 1 year high of $5.15. The business has a 50 day simple moving average of $4.53 and a 200-day simple moving average of $3.78.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $2.00 million during the quarter, compared to analyst estimates 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, analysts expect that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

About Aclaris Therapeutics

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.