Aclaris Therapeutics (NASDAQ:ACRS) Reaches New 1-Year High – Time to Buy?

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.70 and last traded at $5.53, with a volume of 2625 shares changing hands. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ACRS shares. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a research report on Thursday, April 16th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Guggenheim began coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price objective on the stock. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.50.

Aclaris Therapeutics Stock Performance

The firm has a market cap of $784.89 million, a price-to-earnings ratio of -10.04 and a beta of 0.76. The business’s 50-day moving average is $4.69 and its 200-day moving average is $3.90.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share 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 55.89%. The firm had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million. Equities research analysts expect that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of Aclaris Therapeutics during the second quarter worth approximately $34,000. R Squared Ltd acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $37,000. The Manufacturers Life Insurance Company bought a new position in Aclaris Therapeutics in the 2nd quarter worth approximately $48,000. BNP Paribas Financial Markets raised its position in Aclaris Therapeutics by 59.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 9,894 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Aclaris Therapeutics during the 4th quarter worth $52,000. Institutional investors and hedge funds 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.