Equities Analysts Offer Predictions for ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) - Investment analysts at Leerink Partnrs lowered their FY2024 earnings estimates for Aclaris Therapeutics in a research note issued on Tuesday, November 19th. Leerink Partnrs analyst T. Smith now forecasts that the biotechnology company will post earnings per share of ($1.13) for the year, down from their prior estimate of ($0.63). Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for Aclaris Therapeutics' current full-year earnings is ($0.65) per share. Leerink Partnrs also issued estimates for Aclaris Therapeutics' Q4 2024 earnings at ($0.54) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.74) EPS and FY2028 earnings at ($0.98) EPS.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued 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 firm had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $2.00 to $7.00 in a research report on Tuesday. HC Wainwright restated a "neutral" rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. BTIG Research upgraded Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 target price on the stock in a report on Tuesday. Leerink Partners raised Aclaris Therapeutics from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $2.00 to $7.00 in a report on Tuesday. Finally, StockNews.com upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Two research 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 stock. Based on data from MarketBeat.com, Aclaris Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $8.80.

Aclaris Therapeutics Stock Down 13.7 %

Aclaris Therapeutics stock opened at $3.96 on Thursday. The firm has a market capitalization of $282.86 million, a PE ratio of -7.62 and a beta of 0.10. Aclaris Therapeutics has a 52 week low of $0.77 and a 52 week high of $5.17. The firm's 50-day simple moving average is $1.60 and its 200 day simple moving average is $1.34.

Insider Activity at Aclaris Therapeutics

In related news, Director Anand Mehra purchased 666,666 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the transaction, the director now owns 710,030 shares of the company's stock, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. raised its stake 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 valued at $78,000 after acquiring an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aclaris Therapeutics during the 2nd quarter worth $119,000. Assenagon Asset Management S.A. purchased a new stake in Aclaris Therapeutics during the 3rd quarter worth $214,000. Finally, BNP Paribas Financial Markets raised its position in Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company's stock valued at $299,000 after purchasing an additional 23,747 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

About Aclaris Therapeutics

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.

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