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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) reached a new 52-week high on Monday . The stock traded as high as $5.88 and last traded at $5.6660, with a volume of 59882 shares changing hands. The stock had previously closed at $5.68.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ACRS shares. Wedbush lifted their price target on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Oppenheimer initiated coverage on Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 target price on the stock. UBS Group set a $10.00 target price on Aclaris Therapeutics in a report on Thursday, April 16th. Lifesci Capital initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Stock Performance

The company’s fifty day moving average price is $4.84 and its 200 day moving average price is $4.04. The firm has a market capitalization of $773.02 million, a price-to-earnings ratio of -9.89 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million. As a group, sell-side analysts expect that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current year.

Insider Activity

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the sale, the insider owned 13,950,000 shares in the company, valued at $63,193,500. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $34,000. R Squared Ltd bought a new stake in Aclaris Therapeutics in the 4th quarter valued at about $37,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth $48,000. BNP Paribas Financial Markets increased its stake in Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 9,894 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Aclaris Therapeutics in the fourth quarter valued at about $52,000. 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.