Aclaris Therapeutics, Inc. (NASDAQ:ACRS) to Post FY2023 Earnings of ($1.76) Per Share, HC Wainwright Forecasts

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities research analysts at HC Wainwright upped their FY2023 earnings per share estimates for Aclaris Therapeutics in a report issued on Monday, November 13th. HC Wainwright analyst R. Selvaraju now forecasts that the biotechnology company will earn ($1.76) per share for the year, up from their prior estimate of ($1.93). HC Wainwright has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($1.73) per share. HC Wainwright also issued estimates for Aclaris Therapeutics’ Q4 2023 earnings at ($0.50) EPS, Q1 2024 earnings at ($0.41) EPS, Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.39) EPS, Q4 2024 earnings at ($0.40) EPS and FY2024 earnings at ($1.57) EPS.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.07. Aclaris Therapeutics had a negative return on equity of 64.53% and a negative net margin of 534.83%. The company had revenue of $9.30 million during the quarter, compared to analysts’ expectations of $1.57 million. During the same quarter last year, the company earned ($0.30) EPS. Aclaris Therapeutics’s revenue for the quarter was down 51.1% compared to the same quarter last year.

A number of other brokerages have also weighed in on ACRS. William Blair lowered Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday. StockNews.com assumed coverage on shares of Aclaris Therapeutics in a research note on Thursday, October 5th. They set a “sell” rating on the stock. Evercore ISI started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. Stifel Nicolaus reissued a “hold” rating on shares of Aclaris Therapeutics in a report on Monday. Finally, Cantor Fitzgerald lowered shares of Aclaris Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Aclaris Therapeutics presently has an average rating of “Hold” and a consensus price target of $23.17.

Aclaris Therapeutics Price Performance

Shares of Aclaris Therapeutics stock opened at $0.80 on Wednesday. The business has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $7.89. Aclaris Therapeutics has a 1 year low of $0.59 and a 1 year high of $18.96. The company has a market capitalization of $56.75 million, a price-to-earnings ratio of -0.48 and a beta of 0.65.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in Aclaris Therapeutics by 305.4% in the 1st quarter. SG Americas Securities LLC now owns 29,843 shares of the biotechnology company’s stock worth $241,000 after acquiring an additional 22,482 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Aclaris Therapeutics by 49.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 636,829 shares of the biotechnology company’s stock valued at $6,604,000 after purchasing an additional 211,001 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Aclaris Therapeutics during the 2nd quarter valued at approximately $778,000. American International Group Inc. raised its position in shares of Aclaris Therapeutics by 7.2% during the 2nd quarter. American International Group Inc. now owns 33,429 shares of the biotechnology company’s stock valued at $347,000 after buying an additional 2,249 shares in the last quarter. Finally, Strs Ohio increased its position in Aclaris Therapeutics by 8.4% during the second quarter. Strs Ohio now owns 54,100 shares of the biotechnology company’s stock valued at $561,000 after acquiring an additional 4,200 shares during the last quarter.

Insider Activity

In other news, insider James Loerop purchased 14,705 shares of the company’s stock in a transaction on Monday, August 28th. The stock was purchased at an average price of $6.80 per share, with a total value of $99,994.00. Following the completion of the purchase, the insider now directly owns 21,688 shares in the company, valued at approximately $147,478.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider James Loerop bought 14,705 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of $6.80 per share, for a total transaction of $99,994.00. Following the completion of the acquisition, the insider now owns 21,688 shares of the company’s stock, valued at $147,478.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Monahan sold 6,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $5.08, for a total value of $30,480.00. Following the completion of the sale, the insider now owns 129,724 shares of the company’s stock, valued at approximately $658,997.92. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc operates a clinical-stage biopharmaceutical company, develops novel drug candidates for immune-inflammatory diseases in the United States. It operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing innovative therapies to address significant unmet needs for immuno-inflammatory diseases.