Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives $10.14 Average Price Target from Analysts

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have been given an average rating of “Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.2857.

Several research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a report on Thursday, April 16th. Oppenheimer assumed coverage on shares of Aclaris Therapeutics in a report on Thursday, April 16th. They set an “outperform” rating and a $10.00 target price for the company. Guggenheim started coverage on shares of Aclaris Therapeutics in a report on Tuesday. They set a “buy” rating and a $12.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th.

Insider Buying and Selling

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the sale, the insider owned 13,950,000 shares in the company, valued at approximately $63,193,500. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after buying an additional 2,175,101 shares during the period. Geode Capital Management LLC grew its position in Aclaris Therapeutics by 108.4% during the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after buying an additional 1,282,042 shares during the period. Kotler Kevin acquired a new stake in Aclaris Therapeutics during the fourth quarter valued at $5,135,000. Palo Alto Investors LP grew its position in Aclaris Therapeutics by 12.7% during the third quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock valued at $2,977,000 after buying an additional 176,812 shares during the period. Finally, State Street Corp grew its position in Aclaris Therapeutics by 35.3% during the fourth quarter. State Street Corp now owns 1,506,403 shares of the biotechnology company’s stock valued at $4,534,000 after buying an additional 393,257 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

Shares of Aclaris Therapeutics stock opened at $4.93 on Friday. The firm has a fifty day moving average price of $3.83 and a 200 day moving average price of $3.26. Aclaris Therapeutics has a 1 year low of $1.16 and a 1 year high of $4.94. The stock has a market cap of $688.52 million, a PE ratio of -8.80 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 58.88%. The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.32 million. As a group, equities analysts expect that Aclaris Therapeutics will post -0.62 EPS for the current 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.