FY2024 EPS Estimates for ACRS Boosted by Cantor Fitzgerald

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Analysts at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for Aclaris Therapeutics in a research note issued to investors 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 prior estimate of ($0.65). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.75) per share.

A number of other brokerages have also commented on ACRS. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $3.00 to $13.00 in a report on Monday, November 18th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, November 19th. Finally, Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Down 9.0 %

Shares of ACRS stock opened at $3.63 on Monday. The stock has a 50-day moving average price of $1.87 and a 200 day moving average price of $1.43. The firm has a market cap of $259.29 million, a price-to-earnings ratio of -6.98 and a beta of 0.10. Aclaris Therapeutics has a 12 month low of $0.77 and a 12 month high of $5.17.

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

Insider Activity

In other Aclaris Therapeutics news, Director Anand Mehra acquired 666,666 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Several institutional investors have recently modified their holdings 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 valued at $16,388,000 after purchasing an additional 1,261,866 shares in the last quarter. Vanguard Group Inc. lifted its stake in Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after acquiring an additional 207,418 shares in the last quarter. Millennium Management LLC lifted its stake in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after acquiring an additional 63,358 shares in the last quarter. Stonepine Capital Management LLC lifted its stake in Aclaris Therapeutics by 27.6% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after acquiring an additional 531,427 shares in the last quarter. Finally, Trium Capital LLP lifted its stake in Aclaris Therapeutics by 1.1% in the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after acquiring an additional 20,940 shares in the last quarter. 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.