Equities Analysts Set Expectations for ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Research analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for Aclaris Therapeutics in a report issued on Thursday, November 7th. Leerink Partnrs analyst T. Smith now anticipates that the biotechnology company will post earnings of ($0.63) per share for the year, down from their prior forecast of ($0.26). The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.65) per share. Leerink Partnrs also issued estimates for Aclaris Therapeutics’ Q4 2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.55) EPS, FY2026 earnings at ($0.46) EPS, FY2027 earnings at ($0.37) EPS and FY2028 earnings at ($0.39) EPS.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) 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 39.26%. The company had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million.

Several other brokerages also recently issued reports on ACRS. StockNews.com downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.00.

Aclaris Therapeutics Trading Up 7.8 %

Shares of NASDAQ ACRS opened at $2.64 on Monday. The stock has a 50 day simple moving average of $1.37 and a 200-day simple moving average of $1.26. The company has a market cap of $188.36 million, a PE ratio of -5.08 and a beta of 0.10. Aclaris Therapeutics has a 12-month low of $0.59 and a 12-month high of $5.61.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently modified their holdings of the business. BML Capital Management LLC boosted its position in shares of Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after acquiring an additional 1,261,866 shares during the period. Vanguard Group Inc. lifted its position in Aclaris Therapeutics by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after purchasing an additional 207,418 shares during the period. Millennium Management LLC lifted its position in Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after purchasing an additional 63,358 shares during the period. Stonepine Capital Management LLC bought a new position in Aclaris Therapeutics in the second quarter worth $2,120,000. Finally, Trium Capital LLP lifted its position in Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after purchasing an additional 20,940 shares during the period. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Company Profile

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.