Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Down 6.2% – Time to Sell?

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRSGet Free Report) dropped 6.2% on Wednesday . The company traded as low as $6.11 and last traded at $6.1240. Approximately 838,800 shares were traded during trading, a decline of 57% from the average session volume of 1,931,577 shares. The stock had previously closed at $6.53.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ACRS shares. Wedbush upped their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Piper Sandler upped their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Guggenheim initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.50.

Check Out Our Latest Stock Report on Aclaris Therapeutics

Aclaris Therapeutics Stock Performance

The firm has a market capitalization of $855.00 million, a P/E ratio of -10.53 and a beta of 0.78. The business has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $4.53.

Aclaris Therapeutics (NASDAQ:ACRSGet Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. On average, equities analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of ACRS. BlackRock Inc. bought a new position in shares of Aclaris Therapeutics in the 2nd quarter worth $53,096,000. Millennium Management LLC lifted its holdings in shares of Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after acquiring an additional 2,175,101 shares during the last quarter. Kalehua Capital Management LLC bought a new stake in shares of Aclaris Therapeutics during the 1st quarter worth $6,871,000. Kotler Kevin purchased a new position in Aclaris Therapeutics in the fourth quarter worth $5,135,000. Finally, Palo Alto Investors LP purchased a new position in Aclaris Therapeutics in the second quarter worth $8,535,045,000. 98.34% of the stock is currently owned by institutional investors.

About Aclaris Therapeutics

(Get Free Report)

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.

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