Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 10.2% – Time to Buy?

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) were up 10.2% during mid-day trading on Wednesday . The stock traded as high as $4.13 and last traded at $4.1310. Approximately 649,372 shares were traded during trading, a decline of 73% from the average daily volume of 2,374,709 shares. The stock had previously closed at $3.75.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Craig Hallum began coverage on shares of Aclaris Therapeutics in a research report on Friday, January 30th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday. Finally, Wall Street Zen cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.80.

Aclaris Therapeutics Stock Performance

The company has a market cap of $487.10 million, a price-to-earnings ratio of -7.61 and a beta of 0.88. The firm’s 50 day simple moving average is $3.50 and its 200-day simple moving average is $2.85.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. As a group, sell-side analysts expect that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Seven Fleet Capital Management LP acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth approximately $323,000. Invesco Ltd. increased its holdings in shares of Aclaris Therapeutics by 29.2% in the fourth quarter. Invesco Ltd. now owns 209,903 shares of the biotechnology company’s stock valued at $632,000 after purchasing an additional 47,440 shares during the last quarter. XTX Topco Ltd lifted its position in Aclaris Therapeutics by 76.6% during the fourth quarter. XTX Topco Ltd now owns 112,912 shares of the biotechnology company’s stock worth $340,000 after buying an additional 48,987 shares in the last quarter. Wellington Management Group LLP purchased a new position in Aclaris Therapeutics during the fourth quarter worth approximately $796,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in Aclaris Therapeutics during the fourth quarter worth $120,000. 98.34% of the stock is 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.