Aclaris Therapeutics (NASDAQ:ACRS) Issues Earnings Results
by Doug Wharley · The Cerbat GemAclaris Therapeutics (NASDAQ:ACRS – Get Free Report) announced its earnings results on Thursday. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01, FiscalAI reports. The company had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.24 million. Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%.
Aclaris Therapeutics Stock Performance
Shares of NASDAQ:ACRS traded up $0.08 during trading on Thursday, hitting $4.86. The company’s stock had a trading volume of 1,135,672 shares, compared to its average volume of 1,366,799. The business has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $3.26. The company has a market capitalization of $678.75 million, a PE ratio of -9.17 and a beta of 0.76. Aclaris Therapeutics has a fifty-two week low of $1.16 and a fifty-two week high of $4.89.
Insider Activity at Aclaris Therapeutics
In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the transaction, the insider owned 13,950,000 shares in the company, valued at approximately $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Aclaris Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. grew its stake in shares of Aclaris Therapeutics by 2.2% during the third quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company’s stock worth $539,000 after purchasing an additional 6,217 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Aclaris Therapeutics by 7.4% during the third quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 6,271 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Aclaris Therapeutics by 19.8% during the fourth quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 7,702 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Aclaris Therapeutics by 59.0% during the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 9,894 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Aclaris Therapeutics during the fourth quarter worth $52,000. Institutional investors and hedge funds own 98.34% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on ACRS shares. Oppenheimer started coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 target price on the stock. Wedbush boosted their target price on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Craig Hallum began coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Wall Street Zen downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aclaris Therapeutics has an average rating of “Buy” and an average price target of $11.00.
Check Out Our Latest Stock Report on ACRS
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.