Aclaris Therapeutics (NASDAQ:ACRS) Posts Earnings Results, Beats Estimates By $0.01 EPS

Aclaris Therapeutics (NASDAQ:ACRS) announced its earnings results on Thursday. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. The firm had revenue of $3.30 million for the quarter, compared to the consensus estimate of $1.59 million. Aclaris Therapeutics had a negative return on equity of 34.01% and a negative net margin of 802.03%.

Aclaris Therapeutics Stock Up 2.2%

Shares of NASDAQ:ACRS traded up $0.05 during midday trading on Friday, reaching $2.32. 1,143,127 shares of the company traded hands, compared to its average volume of 1,027,590. The firm’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $1.69. The firm has a market capitalization of $251.33 million, a price-to-earnings ratio of -1.69 and a beta of 0.43. Aclaris Therapeutics has a 12 month low of $1.05 and a 12 month high of $5.17.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after purchasing an additional 2,175,101 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Aclaris Therapeutics by 108.4% in 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 period. JPMorgan Chase & Co. raised its position in shares of Aclaris Therapeutics by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company’s stock worth $1,441,000 after buying an additional 134,784 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Aclaris Therapeutics by 29.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after acquiring an additional 127,366 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 53.5% during the second quarter. Bridgeway Capital Management LLC now owns 443,319 shares of the biotechnology company’s stock worth $630,000 after purchasing an additional 154,600 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACRS. Piper Sandler initiated coverage on Aclaris Therapeutics in a research note on Thursday, July 10th. They set an “overweight” rating and a $6.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.71.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.