Aclaris Therapeutics (NASDAQ:ACRS) Stock Rating Lowered by Wall Street Zen

Aclaris Therapeutics (NASDAQ:ACRS) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other brokerages also recently issued reports on ACRS. Craig Hallum began coverage on shares of Aclaris Therapeutics in a research report on Friday, January 30th. They set a “buy” rating and a $10.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, December 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $3.06 on Friday. The business’s 50-day simple moving average is $3.25 and its 200-day simple moving average is $2.65. Aclaris Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.89. The stock has a market capitalization of $369.04 million, a PE ratio of -5.77 and a beta of 0.88.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%.The business had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.07 million. On average, research analysts expect that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position 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 valued at $6,325,000 after purchasing an additional 2,175,101 shares in the last quarter. Kotler Kevin acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $5,135,000. Geode Capital Management LLC grew its holdings in shares of Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after acquiring an additional 1,282,042 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Aclaris Therapeutics in the third quarter valued at about $2,428,000. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of Aclaris Therapeutics in the third quarter valued at about $1,358,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.