FY2024 Earnings Estimate for ACRS Issued By Leerink Partnrs

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Stock analysts at Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for Aclaris Therapeutics in a note issued to investors on Tuesday, November 19th. Leerink Partnrs analyst T. Smith now forecasts that the biotechnology company will post earnings per share of ($1.13) for the year, down from their previous forecast of ($0.63). Leerink Partnrs 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 issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share 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 company had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million.

Several other equities research analysts have also weighed in on ACRS. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Cantor Fitzgerald raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $2.00 to $7.00 in a report on Tuesday. Finally, Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $3.00 to $13.00 in a report on Monday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $4.32 on Thursday. Aclaris Therapeutics has a 1-year low of $0.77 and a 1-year high of $5.17. The business’s fifty day moving average price is $1.65 and its two-hundred day moving average price is $1.36. The firm has a market capitalization of $308.58 million, a PE ratio of -8.71 and a beta of 0.10.

Insider Buying and Selling

In other news, Director Anand Mehra bought 666,666 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were purchased 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 directly owns 710,030 shares in the company, valued at approximately $1,597,567.50. The trade was a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACRS. BML Capital Management LLC boosted its position in shares of Aclaris Therapeutics by 9.7% in 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 during the period. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 207,418 shares during the period. Millennium Management LLC boosted its position in shares of 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 purchasing an additional 63,358 shares during the period. Stonepine Capital Management LLC boosted its position in shares of 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 purchasing an additional 531,427 shares during the period. Finally, Trium Capital LLP boosted its position in shares of 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 purchasing an additional 20,940 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

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.