Aclaris Therapeutics (NASDAQ:ACRS) Sets New 52-Week High – Time to Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price reached a new 52-week high on Monday . The company traded as high as $6.55 and last traded at $6.55, with a volume of 477 shares. The stock had previously closed at $6.41.

Analyst Upgrades and Downgrades

ACRS has been the subject of several recent research reports. Wedbush increased their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Guggenheim started coverage on Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target on the stock. Lifesci Capital began coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Three investment 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Price Performance

The business has a 50-day simple moving average of $5.47 and a two-hundred day simple moving average of $4.49. The stock has a market cap of $915.82 million, a price-to-earnings ratio of -11.29 and a beta of 0.78.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $1.63 million during the quarter, compared to analysts’ expectations 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 anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in Aclaris Therapeutics in the 2nd quarter valued at about $34,000. California State Teachers Retirement System lifted its position in Aclaris Therapeutics by 36.9% during the second quarter. California State Teachers Retirement System now owns 6,798 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 1,833 shares during the last quarter. R Squared Ltd acquired a new stake in Aclaris Therapeutics during the fourth quarter worth approximately $37,000. The Manufacturers Life Insurance Company bought a new stake in shares of Aclaris Therapeutics during the second quarter worth approximately $48,000. Finally, BNP Paribas Financial Markets grew its position in shares of 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 purchasing an additional 9,894 shares during the last quarter. Institutional investors and hedge funds 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.