Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Up 4.7% – Should You Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price rose 4.7% during mid-day trading on Tuesday . The stock traded as high as $6.16 and last traded at $6.1980. 400,011 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,923,204 shares. The stock had previously closed at $5.92.

Analyst Ratings Changes

ACRS has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Guggenheim started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price target for the company. Lifesci Capital initiated coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Finally, Piper Sandler lifted their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Aclaris Therapeutics presently has an average rating of “Buy” and a consensus price target of $11.50.

Aclaris Therapeutics Stock Up 2.2%

The stock has a market capitalization of $900.44 million, a PE ratio of -11.10 and a beta of 0.78. The stock has a fifty day moving average of $5.39 and a 200-day moving average of $4.45.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. Equities research analysts expect that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several institutional investors have recently modified their holdings of ACRS. BlackRock Inc. purchased a new position in Aclaris Therapeutics in the second quarter valued at $53,096,000. Rock Springs Capital Management LP lifted its holdings in Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after buying an additional 18,909 shares during the last quarter. Millennium Management LLC lifted 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 worth $6,325,000 after buying an additional 2,175,101 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after acquiring an additional 1,282,042 shares in the last quarter. Finally, Kalehua Capital Management LLC acquired a new position in shares of Aclaris Therapeutics during the 1st quarter worth about $6,871,000. 98.34% of the stock is owned by hedge funds and other 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.