Aclaris Therapeutics (NASDAQ:ACRS) Hits New 12-Month High – Here’s What Happened

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.88 and last traded at $5.8750, with a volume of 600057 shares trading hands. The stock had previously closed at $5.53.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ACRS shares. Lifesci Capital began coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Guggenheim began 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. Piper Sandler increased their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. UBS Group set a $10.00 target price on Aclaris Therapeutics in a report on Thursday, April 16th. Finally, Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Three equities 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $11.50.

Aclaris Therapeutics Price Performance

The business’s 50-day moving average price is $5.07 and its two-hundred day moving average price is $4.29. The company has a market capitalization of $846.76 million, a price-to-earnings ratio of -10.83 and a beta of 0.78.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. As a group, research analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of ACRS. XTX Topco Ltd acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth $34,000. R Squared Ltd bought a new position in Aclaris Therapeutics in the fourth quarter valued at about $37,000. The Manufacturers Life Insurance Company acquired a new position in Aclaris Therapeutics during the second quarter worth about $48,000. BNP Paribas Financial Markets raised 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 acquiring an additional 9,894 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Aclaris Therapeutics in the fourth quarter worth about $52,000. 98.34% of the stock is 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.