Aclaris Therapeutics’ (ACRS) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note released on Tuesday,Benzinga reports. They currently have a $8.00 price target on the biotechnology company’s stock.

Other analysts have also recently issued reports about the company. Craig Hallum assumed coverage on Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 price target for the company. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Finally, Wall Street Zen lowered shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Aclaris Therapeutics Stock Up 1.4%

ACRS stock opened at $4.20 on Tuesday. The business’s fifty day moving average is $3.49 and its 200-day moving average is $2.87. The company has a market cap of $506.52 million, a P/E ratio of -7.92 and a beta of 0.67. Aclaris Therapeutics has a twelve month low of $1.05 and a twelve month high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) 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 company had revenue of $1.30 million for the quarter, compared to analyst estimates of $2.07 million. Research analysts anticipate that Aclaris Therapeutics will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds have recently modified their holdings of ACRS. Millennium Management LLC lifted its holdings in shares of Aclaris Therapeutics by 111.0% during the 1st 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. Geode Capital Management LLC increased its stake in 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 purchasing an additional 1,282,042 shares in the last quarter. Kotler Kevin bought a new position in Aclaris Therapeutics in the fourth quarter valued at approximately $5,135,000. Palo Alto Investors LP lifted its position in Aclaris Therapeutics by 12.7% in the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock valued at $2,977,000 after acquiring an additional 176,812 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Aclaris Therapeutics by 35.3% during the fourth quarter. State Street Corp now owns 1,506,403 shares of the biotechnology company’s stock worth $4,534,000 after buying an additional 393,257 shares during the period. 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.