Equities Analysts Set Expectations for ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities researchers at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for Aclaris Therapeutics in a research report issued on Thursday, November 21st. Cantor Fitzgerald analyst L. Chen now expects that the biotechnology company will post earnings of ($0.60) per share for the year, up from their previous forecast of ($0.65). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.75) per share.

ACRS has been the subject of a number of other reports. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Aclaris Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Price Performance

ACRS stock opened at $3.99 on Monday. The firm has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $1.42. The stock has a market cap of $285.01 million, a PE ratio of -7.67 and a beta of 0.10. Aclaris Therapeutics has a one year low of $0.77 and a one year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The business had revenue of $4.35 million for the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%.

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 13,461 shares during the last quarter. Trium Capital LLP increased its holdings in Aclaris Therapeutics by 1.1% during the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares during the period. Russell Investments Group Ltd. raised its position in Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares during the last quarter. Millennium Management LLC lifted its holdings in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after buying an additional 63,358 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock worth $974,000 after buying an additional 72,309 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity

In other news, Director Anand Mehra bought 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the purchase, the director now directly owns 710,030 shares in the company, valued at $1,597,567.50. This represents a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 6.40% of the stock is currently owned by corporate insiders.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.