Aclaris Therapeutics (NASDAQ:ACRS) Sets New 1-Year High – Time to Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $5.70 and last traded at $5.53, with a volume of 2625 shares changing hands. The stock had previously closed at $5.56.

Wall Street Analyst Weigh In

ACRS has been the subject of several research analyst reports. Piper Sandler upped their target price on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Lifesci Capital initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target on the stock. Oppenheimer assumed coverage on shares of Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price target for the company. Guggenheim initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price objective for the company. Finally, UBS Group set a $10.00 price objective on shares of Aclaris Therapeutics in a report on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Price Performance

The business has a fifty day simple moving average of $4.65 and a 200 day simple moving average of $3.86. The firm has a market cap of $766.04 million, a price-to-earnings ratio of -9.81 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%.The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. On average, research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of Aclaris Therapeutics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the sale, the insider owned 13,950,000 shares of the company’s stock, valued at $63,193,500. The trade was a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Aclaris Therapeutics by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company’s stock worth $776,000 after acquiring an additional 3,507 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Aclaris Therapeutics by 2.2% in the 3rd quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company’s stock valued at $539,000 after acquiring an additional 6,217 shares during the last quarter. Rhumbline Advisers raised its holdings in Aclaris Therapeutics by 7.4% in the 3rd quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 6,271 shares during the last quarter. ProShare Advisors LLC lifted its stake in Aclaris Therapeutics by 45.4% in the 4th quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 6,734 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Aclaris Therapeutics by 19.8% in the 4th quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 7,702 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.