FY2024 EPS Estimates for ACRS Reduced by Leerink Partnrs

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) - Equities researchers at Leerink Partnrs reduced their FY2024 EPS estimates for shares of Aclaris Therapeutics in a research report issued on Thursday, November 7th. Leerink Partnrs analyst T. Smith now expects that the biotechnology company will post earnings of ($0.63) per share for the year, down from their previous forecast of ($0.26). 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 ($0.13) EPS, FY2025 earnings at ($0.55) EPS, FY2026 earnings at ($0.46) EPS, FY2027 earnings at ($0.37) EPS and FY2028 earnings at ($0.39) EPS.

A number of other brokerages have also recently issued reports on ACRS. HC Wainwright reiterated a "neutral" rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. StockNews.com cut shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.00.

Aclaris Therapeutics Stock Down 0.4 %

Shares of NASDAQ:ACRS traded down $0.01 during midday trading on Monday, reaching $2.63. 1,759,213 shares of the company were exchanged, compared to its average volume of 1,001,533. The firm has a market cap of $187.65 million, a PE ratio of -4.13 and a beta of 0.10. The stock has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.26. Aclaris Therapeutics has a fifty-two week low of $0.59 and a fifty-two week high of $2.68.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its quarterly earnings results 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). Aclaris Therapeutics had a negative return on equity of 39.26% and a negative net margin of 136.65%. The business had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACRS. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Aclaris Therapeutics in the first quarter worth $39,000. SG Americas Securities LLC raised its position in shares of Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company's stock valued at $41,000 after buying an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of 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 worth $78,000 after acquiring an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $119,000. Finally, Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics in the third quarter valued at approximately $214,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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.