Aclaris Therapeutics (NASDAQ:ACRS) Trading Up 10.2% – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price shot up 10.2% on Wednesday . The stock traded as high as $4.13 and last traded at $4.1310. 649,372 shares changed hands during trading, a decline of 73% from the average session volume of 2,374,709 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

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

Aclaris Therapeutics Stock Performance

The firm has a market cap of $487.10 million, a PE ratio of -7.61 and a beta of 0.88. The stock has a 50 day simple moving average of $3.50 and a two-hundred day simple moving average of $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 company had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.07 million. Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%. Equities research analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. AXQ Capital LP purchased a new position in shares of Aclaris Therapeutics during the 3rd quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Aclaris Therapeutics during the second quarter worth $28,000. XTX Topco Ltd acquired a new stake in Aclaris Therapeutics during the second quarter valued at $34,000. R Squared Ltd purchased a new position in Aclaris Therapeutics in the fourth quarter valued at $37,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Aclaris Therapeutics in the second quarter valued at $48,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.