Brokerages Set Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Target Price at $11.29

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) have received a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.2857.

A number of research analysts have commented on ACRS shares. Oppenheimer started coverage on Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price objective on the stock. Piper Sandler upped their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Friday, March 27th. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Guggenheim started coverage on Aclaris Therapeutics in a report on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price objective on the stock.

Aclaris Therapeutics Trading Down 4.6%

ACRS stock opened at $4.34 on Thursday. The business’s 50 day simple moving average is $4.26 and its 200 day simple moving average is $3.54. Aclaris Therapeutics has a 1-year low of $1.34 and a 1-year high of $5.15. The firm has a market capitalization of $606.14 million, a PE ratio of -7.75 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.32 million. As a group, sell-side analysts predict that Aclaris Therapeutics will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the sale, the insider directly owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACRS. AXQ Capital LP acquired a new stake in Aclaris Therapeutics during the third quarter worth about $27,000. XTX Topco Ltd acquired a new stake in Aclaris Therapeutics during the second quarter worth about $34,000. R Squared Ltd acquired a new stake in Aclaris Therapeutics during the fourth quarter worth about $37,000. The Manufacturers Life Insurance Company acquired a new stake in Aclaris Therapeutics during the second quarter worth about $48,000. Finally, BNP Paribas Financial Markets grew its stake in Aclaris Therapeutics by 59.0% during the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after buying an additional 9,894 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Company Profile

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.