Aclaris Therapeutics (NASDAQ:ACRS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Aclaris Therapeutics (NASDAQ:ACRS) issued its earnings results on Thursday. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. Aclaris Therapeutics had a negative net margin of 802.03% and a negative return on equity of 34.01%. The firm had revenue of $3.30 million during the quarter, compared to analyst estimates of $1.59 million.

Aclaris Therapeutics Price Performance

NASDAQ ACRS traded up $0.05 on Friday, reaching $2.32. 1,143,061 shares of the company’s stock traded hands, compared to its average volume of 1,027,568. The stock has a market cap of $251.33 million, a PE ratio of -1.69 and a beta of 0.43. Aclaris Therapeutics has a 12 month low of $1.05 and a 12 month high of $5.17. The stock has a 50-day simple moving average of $2.04 and a 200 day simple moving average of $1.68.

Institutional Trading of Aclaris Therapeutics

Several institutional investors have recently added to or reduced their stakes in ACRS. XTX Topco Ltd purchased a new position in shares of Aclaris Therapeutics in the second quarter worth about $34,000. The Manufacturers Life Insurance Company purchased a new stake in Aclaris Therapeutics during the 2nd quarter valued at about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Aclaris Therapeutics during the 2nd quarter worth approximately $70,000. Invesco Ltd. increased its stake in Aclaris Therapeutics by 409.0% in the 1st quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 45,864 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in Aclaris Therapeutics in the 2nd quarter worth approximately $91,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ACRS. Piper Sandler initiated coverage on Aclaris Therapeutics in a research report on Thursday, July 10th. They set an “overweight” rating and a $6.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.71.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.