Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Consensus Rating of “Buy” from Brokerages

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and three have given 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 $11.50.

ACRS has been the topic of several recent analyst reports. UBS Group set a $10.00 price objective on shares of Aclaris Therapeutics in a research report on Thursday, April 16th. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price objective on the stock. Finally, Piper Sandler raised their price objective on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $5.48 on Friday. The stock has a market cap of $765.34 million, a PE ratio of -9.79 and a beta of 0.76. Aclaris Therapeutics has a 1 year low of $1.46 and a 1 year high of $5.88. The firm has a fifty day moving average price of $4.90 and a 200-day moving average price of $4.11.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results 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 company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million. On average, research analysts expect that Aclaris Therapeutics will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after acquiring an additional 2,175,101 shares during the period. Kalehua Capital Management LLC purchased a new stake in Aclaris Therapeutics in the first quarter worth $6,871,000. Kotler Kevin bought a new stake in shares of Aclaris Therapeutics during the fourth quarter worth $5,135,000. Geode Capital Management LLC lifted its position in shares of 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 worth $3,501,000 after purchasing an additional 1,282,042 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Aclaris Therapeutics during the third quarter valued at $2,428,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.