Cantor Fitzgerald Issues Positive Outlook for ACRS Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities research analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for Aclaris Therapeutics in a report released on Thursday, November 21st. Cantor Fitzgerald analyst L. Chen now anticipates that the biotechnology company will earn ($0.60) per share for the year, up from their prior estimate of ($0.65). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.76) per share.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The business had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%.

Several other analysts also recently commented on ACRS. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday, November 19th. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Finally, Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Aclaris Therapeutics has an average rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $3.80 on Monday. The stock has a market capitalization of $271.43 million, a price-to-earnings ratio of -7.31 and a beta of 0.10. Aclaris Therapeutics has a 52-week low of $0.77 and a 52-week high of $5.17. The stock’s 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.40.

Insider Buying and Selling

In other news, Director Anand Mehra acquired 666,666 shares of Aclaris Therapeutics stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 13,461 shares during the period. Russell Investments Group Ltd. raised its position in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Aclaris Therapeutics in the second quarter valued at approximately $119,000. Assenagon Asset Management S.A. purchased a new stake in shares of Aclaris Therapeutics during the 3rd quarter valued at approximately $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Aclaris Therapeutics by 187.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after buying an additional 216,826 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

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.