Aclaris Therapeutics (NASDAQ:ACRS) Announces Earnings Results

by · The Cerbat Gem

Aclaris Therapeutics (NASDAQ:ACRS – Get Free Report) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01, Zacks reports. The firm had revenue of $3.30 million for the quarter, compared to analyst estimates of $1.59 million. Aclaris Therapeutics had a negative net margin of 802.03% and a negative return on equity of 34.01%.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ ACRS traded up $0.05 during mid-day trading on Friday, hitting $2.32. 1,143,127 shares of the stock were exchanged, compared to its average volume of 1,027,590. Aclaris Therapeutics has a twelve month low of $1.05 and a twelve month high of $5.17. The stock’s fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $1.69. The company has a market cap of $251.33 million, a P/E ratio of -1.69 and a beta of 0.43.

Analysts Set New Price Targets

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

Read Our Latest Analysis on Aclaris Therapeutics

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors have recently bought and sold shares of ACRS. Invesco Ltd. grew its holdings in shares of Aclaris Therapeutics by 409.0% during the first 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 last quarter. Millennium Management LLC raised its holdings in shares of Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after buying an additional 2,175,101 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Aclaris Therapeutics by 29.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock worth $851,000 after buying an additional 127,366 shares in the last quarter. Geode Capital Management LLC grew its holdings in Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after acquiring an additional 1,282,042 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Aclaris Therapeutics by 25.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock valued at $886,000 after acquiring an additional 125,071 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

(Get Free Report)

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.

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