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

Aclaris Therapeutics (NASDAQ:ACRS) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01, FiscalAI reports. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The firm had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.38 million.

Aclaris Therapeutics Price Performance

ACRS traded down $0.18 during trading hours on Friday, reaching $5.91. 2,388,047 shares of the stock traded hands, compared to its average volume of 1,967,128. The firm’s fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $4.31. The company has a market cap of $825.39 million, a price-to-earnings ratio of -10.55 and a beta of 0.78. Aclaris Therapeutics has a fifty-two week low of $1.57 and a fifty-two week high of $6.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACRS. XTX Topco Ltd acquired a new stake in Aclaris Therapeutics during the 2nd quarter valued at approximately $34,000. The Manufacturers Life Insurance Company purchased a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at approximately $48,000. BNP Paribas Financial Markets boosted its stake in shares of Aclaris Therapeutics by 59.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 9,894 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Aclaris Therapeutics during the 4th quarter valued at approximately $52,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACRS. Piper Sandler raised their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Oppenheimer started coverage on Aclaris Therapeutics in a research note on Thursday, April 16th. They set an “outperform” rating and a $10.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.50.

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.