Cantor Fitzgerald Has Positive View of ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities research analysts at Cantor Fitzgerald raised their FY2024 earnings per share estimates for Aclaris Therapeutics in a note issued to investors on Thursday, November 21st. Cantor Fitzgerald analyst L. Chen now expects that the biotechnology company will post earnings per share of ($0.60) for the year, up from their previous estimate of ($0.65). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.76) per share.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The business had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million.

A number of other brokerages have also commented on ACRS. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Aclaris Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Trading Down 12.0 %

ACRS stock opened at $3.80 on Monday. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $5.17. The stock has a market cap of $271.43 million, a price-to-earnings ratio of -7.31 and a beta of 0.10. The company’s 50 day moving average is $1.77 and its 200 day moving average is $1.40.

Institutional Trading of Aclaris Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BML Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Stonepine Capital Management LLC purchased a new stake in Aclaris Therapeutics during the 2nd quarter valued at $2,120,000. Trium Capital LLP bought a new stake in Aclaris Therapeutics in the 2nd quarter worth $2,081,000. Russell Investments Group Ltd. increased its position in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 61,602 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Aclaris Therapeutics by 1.9% during the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after acquiring an additional 63,358 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling

In related news, Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. The trade was a 1,537.37 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is owned by corporate insiders.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.