FY2023 EPS Estimates for Aclaris Therapeutics, Inc. Raised by Analyst (NASDAQ:ACRS)

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities researchers at Leerink Partnrs lifted their FY2023 earnings per share (EPS) estimates for shares of Aclaris Therapeutics in a research report issued to clients and investors on Monday, November 13th. Leerink Partnrs analyst T. Smith now forecasts that the biotechnology company will post earnings per share of ($1.64) for the year, up from their prior forecast of ($1.70). Leerink Partnrs currently has a “Market Perform” rating on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($1.73) per share. Leerink Partnrs also issued estimates for Aclaris Therapeutics’ Q4 2023 earnings at ($0.39) EPS, FY2024 earnings at ($1.27) EPS, FY2025 earnings at ($0.97) EPS, FY2026 earnings at ($0.65) EPS and FY2027 earnings at ($0.59) EPS.

Several other analysts also recently weighed in on the company. William Blair downgraded Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday. HC Wainwright lowered their price objective on shares of Aclaris Therapeutics from $43.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday. Stifel Nicolaus reiterated a “hold” rating on shares of Aclaris Therapeutics in a research note on Monday. StockNews.com assumed coverage on shares of Aclaris Therapeutics in a report on Thursday, October 5th. They issued a “sell” rating for the company. Finally, Cantor Fitzgerald downgraded shares of Aclaris Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.17.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $0.89 on Thursday. The stock’s 50-day moving average is $5.58 and its 200-day moving average is $7.84. The company has a market cap of $62.66 million, a P/E ratio of -0.53 and a beta of 0.65. Aclaris Therapeutics has a 52-week low of $0.59 and a 52-week high of $18.88.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Monday, November 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping 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 firm had revenue of $9.30 million during the quarter, compared to analyst estimates of $1.57 million. During the same period in the previous year, the company earned ($0.30) EPS. The company’s revenue for the quarter was down 51.1% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACRS. JPMorgan Chase & Co. lifted its holdings in shares of Aclaris Therapeutics by 20.0% during the first quarter. JPMorgan Chase & Co. now owns 44,650 shares of the biotechnology company’s stock valued at $770,000 after acquiring an additional 7,448 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Aclaris Therapeutics by 58.5% during the first quarter. MetLife Investment Management LLC now owns 26,282 shares of the biotechnology company’s stock valued at $453,000 after acquiring an additional 9,700 shares during the period. Rhumbline Advisers lifted its holdings in shares of Aclaris Therapeutics by 18.1% during the first quarter. Rhumbline Advisers now owns 55,194 shares of the biotechnology company’s stock valued at $952,000 after acquiring an additional 8,469 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Aclaris Therapeutics by 44.2% during the first quarter. Allianz Asset Management GmbH now owns 81,965 shares of the biotechnology company’s stock valued at $1,413,000 after acquiring an additional 25,125 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Aclaris Therapeutics by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,728,820 shares of the biotechnology company’s stock valued at $47,045,000 after acquiring an additional 10,713 shares during the period.

Insider Buying and Selling

In related news, insider Joseph Monahan sold 6,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 129,724 shares of the company’s stock, valued at $658,997.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Joseph Monahan sold 6,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 129,724 shares of the company’s stock, valued at $658,997.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Loerop bought 14,705 shares of Aclaris Therapeutics stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $6.80 per share, with a total value of $99,994.00. Following the completion of the transaction, the insider now owns 21,688 shares of the company’s stock, valued at $147,478.40. The disclosure for this purchase 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.