Aclaris Therapeutics (NASDAQ:ACRS) Reaches New 52-Week High – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $5.15 and last traded at $4.9450, with a volume of 30986 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

ACRS has been the topic of several recent research reports. Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Guggenheim began coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They set a “buy” rating and a $12.00 price objective for the company. Wedbush boosted their price objective on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, four 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 has an average rating of “Buy” and an average price target of $11.29.

Aclaris Therapeutics Trading Down 4.0%

The stock has a 50 day moving average of $3.98 and a 200-day moving average of $3.34. The stock has a market capitalization of $682.12 million, a P/E ratio of -8.72 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%.The company had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. Research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.63 EPS for the current year.

Insider Activity at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total value of $1,359,000.00. Following the transaction, the insider directly owned 13,950,000 shares in the company, valued at approximately $63,193,500. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 45,864 shares during the period. Millennium Management LLC boosted its holdings in shares of Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. grew its stake in Aclaris Therapeutics by 29.7% in the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock worth $851,000 after purchasing an additional 127,366 shares in the last quarter. Geode Capital Management LLC grew its stake in Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Aclaris Therapeutics by 25.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 125,071 shares during the period. 98.34% of the stock is currently owned by institutional investors.

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.