Aclaris Therapeutics (NASDAQ:ACRS) Sets New 52-Week High – Still a Buy?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $4.89 and last traded at $4.6140, with a volume of 25428019 shares changing hands. The stock had previously closed at $2.62.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ACRS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Monday, October 20th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aclaris Therapeutics has an average rating of “Moderate Buy” and an average price target of $9.75.

Aclaris Therapeutics Trading Up 69.1%

The business’s 50-day simple moving average is $2.82 and its 200 day simple moving average is $2.21. The company has a market capitalization of $479.99 million, a P/E ratio of -3.21 and a beta of 0.41.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Aclaris Therapeutics had a negative return on equity of 39.73% and a negative net margin of 900.01%.The firm had revenue of $3.30 million for the quarter, compared to analysts’ expectations of $1.59 million. As a group, sell-side analysts predict that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Aclaris Therapeutics by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company’s stock worth $1,441,000 after purchasing an additional 134,784 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Aclaris Therapeutics by 7.0% during the third quarter. Qube Research & Technologies Ltd now owns 544,760 shares of the biotechnology company’s stock worth $1,035,000 after buying an additional 35,410 shares in the last quarter. Palo Alto Investors LP boosted its holdings in Aclaris Therapeutics by 12.7% during the third quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock worth $2,977,000 after buying an additional 176,812 shares in the last quarter. Citadel Advisors LLC grew its position in Aclaris Therapeutics by 25.3% in the third quarter. Citadel Advisors LLC now owns 1,432,677 shares of the biotechnology company’s stock worth $2,722,000 after buying an additional 288,871 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Aclaris Therapeutics by 64.7% in the third quarter. Algert Global LLC now owns 65,630 shares of the biotechnology company’s stock valued at $125,000 after buying an additional 25,780 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Aclaris Therapeutics

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.