Aclaris Therapeutics (NASDAQ:ACRS) Shares Gap Up – Still a Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) gapped up prior to trading on Tuesday. The stock had previously closed at $3.79, but opened at $3.98. Aclaris Therapeutics shares last traded at $3.65, with a volume of 2,914,705 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACRS shares. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Canaccord Genuity Group started coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. 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 target price on shares of Aclaris Therapeutics in a report on Wednesday. Wedbush cut their price target on shares of Aclaris Therapeutics from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Craig Hallum set a $9.00 price target on Aclaris Therapeutics in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $11.00.

Aclaris Therapeutics Trading Up 4.5%

The stock has a market cap of $553.69 million, a price-to-earnings ratio of -6.83 and a beta of 0.87. The firm’s 50 day moving average is $4.98 and its two-hundred day moving average is $4.50.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. As a group, equities analysts expect that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Aclaris Therapeutics during the 2nd quarter worth $53,096,000. Rock Springs Capital Management LP boosted its holdings in Aclaris Therapeutics by 0.4% in the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after purchasing an additional 18,909 shares during the period. Braidwell LP increased its stake in shares of Aclaris Therapeutics by 26.1% during the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after acquiring an additional 443,232 shares during the period. Kalehua Capital Management LLC bought a new stake in Aclaris Therapeutics in the first quarter worth approximately $6,871,000. Finally, Palo Alto Investors LP acquired a new position in shares of Aclaris Therapeutics in the second quarter valued at $8,535,045. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.