HC Wainwright Has Bullish Estimate for ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) - Analysts at HC Wainwright raised their FY2024 earnings estimates for Aclaris Therapeutics in a research report issued on Monday, December 23rd. HC Wainwright analyst R. Selvaraju now anticipates that the biotechnology company will post earnings per share of ($0.58) for the year, up from their previous estimate of ($0.66). HC Wainwright currently has a "Buy" rating and a $20.00 target price on the stock. The consensus estimate for Aclaris Therapeutics' current full-year earnings is ($0.75) per share. HC Wainwright also issued estimates for Aclaris Therapeutics' Q4 2024 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.19) EPS and FY2025 earnings at ($0.59) EPS.

Several other brokerages have also recently weighed in on ACRS. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Wednesday, November 20th. BTIG Research upgraded shares of 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, November 19th. StockNews.com upgraded shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, November 15th. Leerink Partnrs upgraded Aclaris Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 19th. Finally, Piper Sandler upgraded Aclaris Therapeutics from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Aclaris Therapeutics currently has an average rating of "Buy" and a consensus price target of $11.00.

Aclaris Therapeutics Trading Up 0.3 %

NASDAQ:ACRS traded up $0.01 during trading hours on Wednesday, hitting $2.90. The company had a trading volume of 499,772 shares, compared to its average volume of 1,384,920. Aclaris Therapeutics has a 1 year low of $0.86 and a 1 year high of $5.17. The company has a market cap of $207.15 million, a P/E ratio of -5.58 and a beta of 0.44. The company has a 50-day moving average of $2.79 and a 200 day moving average of $1.76.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million during the quarter, compared to analysts' expectations of $8.31 million.

Institutional Investors Weigh In On Aclaris Therapeutics

Several large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company's stock worth $382,000 after buying an additional 216,826 shares during the period. BML Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 9.7% in 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 in the last quarter. Stonepine Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth $2,120,000. Trium Capital LLP acquired a new position in shares of Aclaris Therapeutics during the second quarter worth $2,081,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Aclaris Therapeutics in the third quarter valued at $1,053,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insider Buying and Selling

In related news, Director Anand Mehra acquired 666,666 shares of Aclaris Therapeutics stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. The trade was a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by corporate insiders.

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.