ACRS FY2024 EPS Estimate Boosted by Cantor Fitzgerald

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for Aclaris Therapeutics in a research report issued on Thursday, November 21st. Cantor Fitzgerald analyst L. Chen now forecasts that the biotechnology company will post earnings per share of ($0.60) for the year, up from their previous forecast of ($0.65). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.75) per share.

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

A number of other research firms also recently weighed in on ACRS. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Trading Up 5.0 %

ACRS opened at $3.99 on Monday. The company has a market cap of $285.01 million, a price-to-earnings ratio of -7.67 and a beta of 0.10. The stock has a fifty day simple moving average of $1.82 and a two-hundred day simple moving average of $1.42. Aclaris Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.17.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its stake in Aclaris Therapeutics by 69.5% during 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 holdings in shares of Aclaris Therapeutics by 5,265.1% during 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $119,000. Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics during the third quarter valued at approximately $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Aclaris Therapeutics by 187.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 216,826 shares during the last quarter. 98.34% of the stock is currently 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.