Aclaris Therapeutics (NASDAQ:ACRS) Announces Earnings Results

Aclaris Therapeutics (NASDAQ:ACRS) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02, FiscalAI reports. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. The business had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $4.86 on Friday. Aclaris Therapeutics has a 1-year low of $1.16 and a 1-year high of $4.89. The company has a 50-day moving average of $3.83 and a 200 day moving average of $3.26. The firm has a market cap of $678.77 million, a PE ratio of -9.17 and a beta of 0.76.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACRS. Wedbush boosted their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Craig Hallum began coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They set a “buy” rating and a $10.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Finally, Piper Sandler boosted their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.00.

Insiders Place Their Bets

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the sale, the insider directly owned 13,950,000 shares of the company’s stock, valued at $63,193,500. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ACRS. Invesco Ltd. lifted its stake in Aclaris Therapeutics by 409.0% in the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 45,864 shares during the period. Millennium Management LLC lifted its stake in Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after acquiring an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. lifted its stake in Aclaris Therapeutics by 29.7% in the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock worth $851,000 after acquiring an additional 127,366 shares during the period. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 1,282,042 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Aclaris Therapeutics by 25.1% in the second quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock worth $886,000 after acquiring an additional 125,071 shares during the period. 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.