HC Wainwright Comments on Aclaris Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:ACRS)

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities researchers at HC Wainwright increased their Q1 2024 earnings per share (EPS) estimates for Aclaris Therapeutics in a research report issued on Tuesday, November 14th. HC Wainwright analyst R. Selvaraju now anticipates that the biotechnology company will post earnings per share of ($0.37) for the quarter, up from their prior forecast of ($0.41). HC Wainwright currently has a “Buy” rating and a $9.00 target price 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’ Q2 2024 earnings at ($0.31) EPS, Q3 2024 earnings at ($0.32) EPS, Q4 2024 earnings at ($0.34) EPS and FY2024 earnings at ($1.34) EPS.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $9.30 million during the quarter, compared to analysts’ expectations of $1.57 million. During the same quarter last year, the business posted ($0.30) earnings per share. The business’s revenue for the quarter was down 51.1% on a year-over-year basis.

ACRS has been the subject of a number of other research reports. StockNews.com initiated coverage on Aclaris Therapeutics in a research report on Thursday, October 5th. They set a “sell” rating for the company. Evercore ISI started coverage on Aclaris Therapeutics in a report on Tuesday, October 3rd. They issued an “outperform” rating and a $22.00 price target for the company. Stifel Nicolaus restated a “hold” rating on shares of Aclaris Therapeutics in a report on Monday. Cantor Fitzgerald cut Aclaris Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday. Finally, William Blair cut Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Hold” and an average target price of $23.17.

Aclaris Therapeutics Stock Up 10.4 %

Shares of ACRS stock opened at $0.89 on Thursday. The stock has a market cap of $62.66 million, a P/E ratio of -0.53 and a beta of 0.65. The business has a fifty day simple moving average of $5.58 and a 200-day simple moving average of $7.84. Aclaris Therapeutics has a fifty-two week low of $0.59 and a fifty-two week high of $18.88.

Insider Activity

In other news, insider James Loerop acquired 14,705 shares of Aclaris Therapeutics stock in a transaction dated Monday, August 28th. The shares were acquired at an average cost of $6.80 per share, with a total value of $99,994.00. Following the purchase, the insider now directly owns 21,688 shares of the company’s stock, valued at approximately $147,478.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider James Loerop purchased 14,705 shares of Aclaris Therapeutics stock in a transaction that occurred on Monday, August 28th. The shares were purchased at an average cost of $6.80 per share, with a total value of $99,994.00. Following the transaction, the insider now owns 21,688 shares of the company’s stock, valued at approximately $147,478.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Monahan sold 6,000 shares of the business’s 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 transaction, the insider now directly owns 129,724 shares in the company, valued at $658,997.92. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of Aclaris Therapeutics by 305.4% in the 1st quarter. SG Americas Securities LLC now owns 29,843 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 22,482 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Aclaris Therapeutics by 49.6% in 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 acquiring an additional 211,001 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at approximately $778,000. American International Group Inc. increased its holdings in shares of Aclaris Therapeutics by 7.2% in the 2nd quarter. American International Group Inc. now owns 33,429 shares of the biotechnology company’s stock valued at $347,000 after acquiring an additional 2,249 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Aclaris Therapeutics by 8.4% in the 2nd 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.

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.