Aclaris Therapeutics (NASDAQ:ACRS) Shares Climb 7.5% – Should You Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was up 7.5% during trading on Thursday. The stock traded as high as $3.62 and last traded at $3.6550. 2,904,926 shares changed hands during trading, an increase of 37% from the average session volume of 2,125,028 shares. The stock had previously closed at $3.40.

Analyst Ratings Changes

ACRS has been the subject of a number of recent research reports. Canaccord Genuity Group initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $10.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Finally, Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. 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. According to MarketBeat, Aclaris Therapeutics has an average rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Trading Up 1.1%

The company has a market cap of $535.51 million, a price-to-earnings ratio of -6.60 and a beta of 0.87. The company’s 50 day moving average price is $5.58 and its 200 day moving average price is $4.97.

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

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ACRS. Braidwell LP lifted its stake in shares of Aclaris Therapeutics by 26.1% in the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after purchasing an additional 443,232 shares during the period. Wellington Management Group LLP grew its holdings in shares of Aclaris Therapeutics by 4.0% in the 2nd quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock worth $1,415,000 after acquiring an additional 10,342 shares during the period. Palo Alto Investors LP purchased a new position in Aclaris Therapeutics in the 2nd quarter valued at approximately $8,535,045. Jefferies Financial Group Inc. purchased a new position in Aclaris Therapeutics in the 2nd quarter valued at approximately $58,000. Finally, Bank of America Corp DE acquired a new position in Aclaris Therapeutics during the second quarter worth $584,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company’s research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris’ lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.