What is Leerink Partnrs’ Forecast for ACRS FY2024 Earnings?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for shares of Aclaris Therapeutics in a research note issued to investors on Tuesday, November 19th. Leerink Partnrs analyst T. Smith now forecasts that the biotechnology company will earn ($1.13) per share for the year, down from their prior forecast of ($0.63). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. 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 ($0.54) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.74) EPS and FY2028 earnings at ($0.98) EPS.

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

A number of other equities research analysts also recently commented on ACRS. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Tuesday. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Finally, StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Stock Down 12.0 %

Shares of ACRS stock opened at $3.80 on Thursday. Aclaris Therapeutics has a 52 week low of $0.77 and a 52 week high of $5.17. The business has a 50 day moving average of $1.77 and a two-hundred day moving average of $1.39. The company has a market cap of $271.44 million, a P/E ratio of -7.31 and a beta of 0.10.

Insiders Place Their Bets

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the acquisition, the director now owns 710,030 shares of the company’s stock, valued at $1,597,567.50. The trade was a 1,537.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds have recently bought and sold shares of the business. BML Capital Management LLC lifted its holdings in shares of Aclaris Therapeutics by 9.7% during the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after acquiring an additional 1,261,866 shares during the period. Stonepine Capital Management LLC acquired a new stake in Aclaris Therapeutics in the second quarter valued at $2,120,000. Trium Capital LLP acquired a new position in shares of Aclaris Therapeutics in the second quarter worth approximately $2,081,000. Russell Investments Group Ltd. raised its holdings in Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 61,602 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after buying an additional 23,747 shares during the period. 98.34% of the stock is owned by institutional investors.

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.