Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Get Free Report)’s stock price was down 3.8% during mid-day trading on Tuesday. The stock traded as low as $5.23 and last traded at $5.2250. 169,743 shares were traded during trading, a decline of 92% from the average daily volume of 2,004,112 shares. The stock had previously closed at $5.43.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on ACRS shares. Lifesci Capital started coverage on Aclaris Therapeutics in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Finally, Canaccord Genuity Group began coverage on Aclaris Therapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $11.33.
Check Out Our Latest Stock Analysis on Aclaris Therapeutics
Aclaris Therapeutics Stock Down 4.5%
Aclaris Therapeutics (NASDAQ:ACRS – Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.38 million. Equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current year.
Hedge Funds Weigh In On Aclaris Therapeutics
Several institutional investors have recently added to or reduced their stakes in ACRS. BlackRock Inc. bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at $53,096,000. Rock Springs Capital Management LP boosted its position in shares of Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after purchasing an additional 18,909 shares in the last quarter. Braidwell LP boosted its position in shares of Aclaris Therapeutics by 26.1% during the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after purchasing an additional 443,232 shares in the last quarter. Kalehua Capital Management LLC acquired a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at about $6,871,000. Finally, Palo Alto Investors LP bought a new stake in Aclaris Therapeutics in the 2nd quarter valued at about $8,535,045. 98.34% of the stock is owned by institutional investors and hedge funds.
Aclaris Therapeutics Company Profile
Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research programs are centered on potentially addressing conditions in which existing treatments have limited effectiveness or tolerability.
Aclaris has developed a pipeline that has included zunsemetinib, an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being studied for inflammatory diseases, and other small-molecule therapies targeting immune and inflammatory pathways.
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