Aclaris Therapeutics (NASDAQ:ACRS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Aclaris Therapeutics (NASDAQ:ACRS) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01, FiscalAI reports. Aclaris Therapeutics had a negative return on equity of 61.94% and a negative net margin of 921.50%.The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $5.91 on Friday. The firm has a 50-day moving average of $5.13 and a two-hundred day moving average of $4.33. The stock has a market cap of $825.39 million, a price-to-earnings ratio of -10.19 and a beta of 0.78. Aclaris Therapeutics has a 1 year low of $1.57 and a 1 year high of $6.51.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CIBC Asset Management Inc purchased a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at $52,000. Persistent Asset Partners Ltd acquired a new stake in shares of Aclaris Therapeutics during the 4th quarter valued at about $67,000. XTX Topco Ltd acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $34,000. BNP Paribas Financial Markets grew its position in shares of Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 9,894 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Aclaris Therapeutics in the second quarter valued at approximately $48,000. Institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ACRS. UBS Group set a $10.00 price objective on Aclaris Therapeutics in a research report on Thursday, April 16th. Wedbush boosted their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Oppenheimer initiated coverage on shares of Aclaris Therapeutics in a research report on Thursday, April 16th. They set an “outperform” rating and a $10.00 target price on the stock. Piper Sandler lifted their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $11.50.

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.