FY2023 EPS Estimates for Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Reduced by Cantor Fitzgerald

Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Get Rating) – Equities research analysts at Cantor Fitzgerald cut their FY2023 EPS estimates for Aclaris Therapeutics in a note issued to investors on Tuesday, May 9th. Cantor Fitzgerald analyst L. Chen now anticipates that the biotechnology company will post earnings per share of ($1.94) for the year, down from their previous estimate of ($1.69). Cantor Fitzgerald currently has a “Overweight” rating and a $38.00 price target on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($1.73) per share.

Several other equities analysts have also weighed in on the stock. HC Wainwright cut their price objective on shares of Aclaris Therapeutics from $50.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. StockNews.com assumed coverage on shares of Aclaris Therapeutics in a research report on Thursday, March 16th. They set a “sell” rating on the stock. BTIG Research dropped their price target on shares of Aclaris Therapeutics from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Aclaris Therapeutics from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $7.89 on Friday. The firm has a market cap of $557.66 million, a PE ratio of -5.93 and a beta of 0.51. The firm’s 50 day moving average price is $8.50 and its 200 day moving average price is $13.12. Aclaris Therapeutics has a twelve month low of $5.77 and a twelve month high of $18.96.

Aclaris Therapeutics (NASDAQ:ACRS – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.02. The business had revenue of $2.50 million during the quarter, compared to analysts’ expectations of $1.75 million. Aclaris Therapeutics had a negative net margin of 292.11% and a negative return on equity of 41.71%. The firm’s quarterly revenue was up 66.7% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors have recently bought and sold shares of ACRS. Great West Life Assurance Co. Can acquired a new stake in Aclaris Therapeutics during the third quarter worth $31,000. UBS Group AG boosted its stake in Aclaris Therapeutics by 41.4% during the second quarter. UBS Group AG now owns 2,406 shares of the biotechnology company’s stock worth $34,000 after buying an additional 704 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Aclaris Therapeutics during the fourth quarter worth $75,000. State of Wyoming acquired a new stake in Aclaris Therapeutics during the fourth quarter worth $87,000. Finally, Profund Advisors LLC acquired a new stake in Aclaris Therapeutics during the first quarter worth $112,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

Insider Activity

In related news, CEO Douglas J. Manion acquired 6,500 shares of the stock in a transaction dated Thursday, March 9th. The shares were acquired at an average price of $7.74 per share, for a total transaction of $50,310.00. Following the completion of the purchase, the chief executive officer now owns 6,500 shares in the company, valued at approximately $50,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Douglas J. Manion acquired 6,500 shares of the stock in a transaction dated Thursday, March 9th. The shares were acquired at an average price of $7.74 per share, for a total transaction of $50,310.00. Following the completion of the purchase, the chief executive officer now owns 6,500 shares in the company, valued at approximately $50,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Monahan sold 14,800 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $12.37, for a total transaction of $183,076.00. Following the completion of the sale, the insider now owns 151,261 shares in the company, valued at approximately $1,871,098.57. The disclosure for this sale can be found here. Insiders have sold a total of 44,800 shares of company stock valued at $554,096 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

About Aclaris Therapeutics

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Aclaris Therapeutics, Inc operates as a dermatologist-led biopharmaceutical company, which engages in identifying, developing, and commercializing novel drugs to address the needs in medical and aesthetic dermatology and immunology. It operates through the Therapeutics and Contract Research segments.