Aclaris Therapeutics (NASDAQ:ACRS) Announces Earnings Results

Aclaris Therapeutics (NASDAQ:ACRS) posted its earnings results on Thursday. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01, FiscalAI reports. The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock traded down $0.18 during mid-day trading on Friday, hitting $5.91. 2,388,047 shares of the stock traded hands, compared to its average volume of 1,967,128. Aclaris Therapeutics has a twelve month low of $1.57 and a twelve month high of $6.51. The company’s 50-day simple moving average is $5.10 and its 200-day simple moving average is $4.31. The firm has a market cap of $825.39 million, a price-to-earnings ratio of -10.55 and a beta of 0.78.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group set a $10.00 target price on Aclaris Therapeutics in a research note on Thursday, April 16th. Lifesci Capital assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price objective on the stock. Guggenheim assumed coverage on shares of Aclaris Therapeutics in a report on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Invesco Ltd. raised its position in Aclaris Therapeutics by 29.2% in the fourth quarter. Invesco Ltd. now owns 209,903 shares of the biotechnology company’s stock worth $632,000 after acquiring an additional 47,440 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Aclaris Therapeutics by 76.6% during the 4th quarter. XTX Topco Ltd now owns 112,912 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 48,987 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Aclaris Therapeutics in the 4th quarter worth approximately $796,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Aclaris Therapeutics in the 4th quarter worth approximately $120,000. Finally, Quadrature Capital Ltd lifted its stake in Aclaris Therapeutics by 82.8% during the fourth quarter. Quadrature Capital Ltd now owns 57,670 shares of the biotechnology company’s stock valued at $174,000 after purchasing an additional 26,117 shares during the last quarter. Institutional investors 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.