Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Get Free Report)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $5.88 and last traded at $5.6660, with a volume of 59882 shares traded. The stock had previously closed at $5.68.
Analyst Upgrades and Downgrades
ACRS has been the subject of a number of analyst reports. Wedbush increased their price objective on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. UBS Group set a $10.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Guggenheim assumed coverage on shares of Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target for the company. Finally, Lifesci Capital initiated coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target 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 company. Based on data from MarketBeat, Aclaris Therapeutics currently has a consensus rating of “Buy” and an average target price of $11.50.
View Our Latest Report on Aclaris Therapeutics
Aclaris Therapeutics Trading Up 2.2%
Aclaris Therapeutics (NASDAQ:ACRS – Get Free Report) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. Equities analysts expect that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.
Insider Buying and Selling at Aclaris Therapeutics
In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 13,950,000 shares in the company, valued at $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.
Institutional Trading of Aclaris Therapeutics
Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted 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 valued at $1,441,000 after purchasing an additional 134,784 shares during the period. AQR Capital Management LLC grew its stake in Aclaris Therapeutics by 197.0% in the fourth quarter. AQR Capital Management LLC now owns 103,792 shares of the biotechnology company’s stock worth $312,000 after purchasing an additional 68,840 shares during the period. Panagora Asset Management Inc. raised its holdings in Aclaris Therapeutics by 49.6% in the fourth quarter. Panagora Asset Management Inc. now owns 68,190 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 22,605 shares in the last quarter. Man Group plc bought a new position in Aclaris Therapeutics in the fourth quarter worth $128,000. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in Aclaris Therapeutics during the fourth quarter valued at $120,000. 98.34% of the stock is owned by institutional investors.
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.
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