Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 10.2% – Time to Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares rose 10.2% during mid-day trading on Wednesday . The stock traded as high as $4.13 and last traded at $4.1310. Approximately 649,372 shares were traded during trading, a decline of 73% from the average daily volume of 2,374,709 shares. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACRS. Wedbush reissued an “outperform” rating and set a $8.00 target price on shares of Aclaris Therapeutics in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Craig Hallum started coverage on shares of Aclaris Therapeutics in a report on Friday, January 30th. They issued a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.

Aclaris Therapeutics Stock Up 1.4%

The firm has a 50 day moving average of $3.49 and a 200-day moving average of $2.87. The company has a market cap of $506.52 million, a P/E ratio of -7.92 and a beta of 0.67.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.07 million. On average, research analysts predict that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in Aclaris Therapeutics by 409.0% during the 1st quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 45,864 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock worth $851,000 after purchasing an additional 127,366 shares during the period. Geode Capital Management LLC lifted its position in shares of Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after purchasing an additional 1,282,042 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $64,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.