Aclaris Therapeutics (NASDAQ:ACRS) Stock Jumps 7.9% – Should You Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price was up 7.9% during trading on Tuesday. The stock traded as high as $3.76 and last traded at $3.7560. Approximately 519,874 shares traded hands during trading, a decline of 76% from the average daily volume of 2,180,576 shares. The stock had previously closed at $3.48.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Finally, Canaccord Genuity Group started coverage on shares of Aclaris Therapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $10.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Stock Performance

The stock has a market cap of $532.71 million, a price-to-earnings ratio of -6.57 and a beta of 0.87. The business’s 50 day moving average is $5.19 and its 200-day moving average is $4.97.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. The firm had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.38 million. Sell-side analysts anticipate that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Aclaris Therapeutics during the second quarter worth about $53,096,000. Rock Springs Capital Management LP raised its stake in shares of Aclaris Therapeutics by 0.4% in the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock valued at $16,772,000 after acquiring an additional 18,909 shares during the period. Braidwell LP raised its stake in shares of Aclaris Therapeutics by 26.1% in the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after acquiring an additional 443,232 shares during the period. Kalehua Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at approximately $6,871,000. Finally, Palo Alto Investors LP acquired a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $8,535,045. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.