Aclaris Therapeutics (NASDAQ:ACRS) Shares Gap Up – Time to Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $3.79, but opened at $3.98. Aclaris Therapeutics shares last traded at $3.65, with a volume of 2,914,705 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Price Performance

The company has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $4.48. The company has a market cap of $514.55 million, a PE ratio of -6.44 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. On average, equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in Aclaris Therapeutics during the 1st quarter worth approximately $814,000. Bank of New York Mellon Corp purchased a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at approximately $1,495,000. Dimensional Fund Advisors LP grew its position in shares of Aclaris Therapeutics by 88.8% during the first quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company’s stock worth $1,914,000 after buying an additional 240,611 shares in the last quarter. Palo Alto Investors LP bought a new stake in shares of Aclaris Therapeutics in the second quarter worth $8,535,045. Finally, Deutsche Bank AG bought a new stake in shares of Aclaris Therapeutics in the second quarter worth $5,507,000. 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 developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.