Aclaris Therapeutics (NASDAQ:ACRS) Reaches New 1-Year High – Here’s What Happened

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $5.20 and last traded at $5.1450, with a volume of 1116777 shares changing hands. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wedbush raised their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Oppenheimer began coverage on Aclaris Therapeutics in a report on Thursday, April 16th. They set an “outperform” rating and a $10.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Piper Sandler boosted their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Trading Up 2.2%

The company’s 50-day moving average is $4.59 and its two-hundred day moving average is $3.83. The stock has a market capitalization of $761.87 million, a P/E ratio of -9.72 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.32 million. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. Sell-side analysts expect that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

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 value of $1,359,000.00. Following the sale, the insider directly owned 13,950,000 shares in the company, valued at $63,193,500. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Aclaris Therapeutics during the second quarter valued at $34,000. R Squared Ltd acquired a new stake in Aclaris Therapeutics in the fourth quarter worth about $37,000. The Manufacturers Life Insurance Company bought a new position in Aclaris Therapeutics in the 2nd quarter valued at about $48,000. BNP Paribas Financial Markets grew its position in Aclaris Therapeutics by 59.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 9,894 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.