Equities Analysts Set Expectations for ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) - Research analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for Aclaris Therapeutics in a report released on Thursday, November 21st. Cantor Fitzgerald analyst L. Chen now forecasts that the biotechnology company will post earnings per share of ($0.60) for the year, up from their previous estimate of ($0.65). Cantor Fitzgerald currently has a "Overweight" rating on the stock. The consensus estimate for Aclaris Therapeutics' current full-year earnings is ($0.75) per share.

A number of other brokerages have also issued reports on ACRS. Leerink Partnrs upgraded Aclaris Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 19th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Leerink Partners raised Aclaris Therapeutics from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. HC Wainwright reaffirmed a "neutral" rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Finally, StockNews.com raised shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.80.

Aclaris Therapeutics Trading Up 5.0 %

NASDAQ ACRS traded up $0.19 during trading hours on Monday, reaching $3.99. The company's stock had a trading volume of 1,686,920 shares, compared to its average volume of 1,415,973. The stock has a market cap of $285.01 million, a PE ratio of -7.44 and a beta of 0.10. The business has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $1.40. Aclaris Therapeutics has a 52 week low of $0.77 and a 52 week high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (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%.

Insiders Place Their Bets

In related news, Director Anand Mehra acquired 666,666 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was purchased at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the transaction, the director now directly owns 710,030 shares of the company's stock, valued at approximately $1,597,567.50. The trade was a 1,537.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds have recently bought and sold shares of the company. BML Capital Management LLC increased its position in shares of Aclaris Therapeutics by 9.7% during the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company's stock valued at $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at approximately $2,120,000. Trium Capital LLP purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $2,081,000. Russell Investments Group Ltd. raised its holdings in shares of Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 61,602 shares during the period. Finally, Millennium Management LLC lifted its stake in Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company's stock valued at $3,671,000 after purchasing an additional 63,358 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

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.