Aclaris Therapeutics (NASDAQ:ACRS) Reaches New 52-Week High – Here’s Why

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $5.88 and last traded at $5.6660, with a volume of 59882 shares changing hands. The stock had previously closed at $5.68.

Wall Street Analyst Weigh In

ACRS has been the topic of several recent analyst reports. UBS Group set a $10.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Piper Sandler lifted 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. Lifesci Capital assumed coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Wedbush boosted their price objective on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $11.50.

Aclaris Therapeutics Price Performance

The company’s fifty day moving average price is $4.84 and its 200-day moving average price is $4.04. The stock has a market cap of $773.02 million, a price-to-earnings ratio of -9.89 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) earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.32 million. On average, sell-side analysts forecast that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics 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 completion of the transaction, the insider 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new position in Aclaris Therapeutics in the 4th quarter valued at $37,000. Strs Ohio purchased a new position in shares of Aclaris Therapeutics during the 1st quarter worth $60,000. CIBC Asset Management Inc purchased a new position in Aclaris Therapeutics during the fourth quarter worth about $52,000. China Universal Asset Management Co. Ltd. acquired a new position in Aclaris Therapeutics in the fourth quarter valued at approximately $53,000. Finally, ProShare Advisors LLC lifted its stake in shares of Aclaris Therapeutics by 45.4% in the 4th quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 6,734 shares during the last quarter. 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.