Aclaris Therapeutics (NASDAQ:ACRS) Stock Jumps 7.9% – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price was up 7.9% on Tuesday. The stock traded as high as $3.76 and last traded at $3.7560. Approximately 519,874 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,180,576 shares. The stock had previously closed at $3.48.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACRS. Wall Street Zen cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Canaccord Genuity Group began coverage on shares of Aclaris Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Stock Performance

The firm’s 50-day simple moving average is $5.28 and its two-hundred day simple moving average is $4.97. The stock has a market cap of $512.44 million, a price-to-earnings ratio of -6.32 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. Equities research analysts expect that Aclaris Therapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ACRS. Braidwell LP raised its position in Aclaris Therapeutics by 26.1% in the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after purchasing an additional 443,232 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Aclaris Therapeutics by 4.0% during the second quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock worth $1,415,000 after purchasing an additional 10,342 shares during the period. Palo Alto Investors LP purchased a new stake in shares of Aclaris Therapeutics in the second quarter worth approximately $8,535,045. Jefferies Financial Group Inc. purchased a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $58,000. Finally, Bank of America Corp DE purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter valued at $584,000. Institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company’s research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris’ lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.