Research Analysts Issue Forecasts for ACRS FY2024 Earnings

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Analysts at HC Wainwright boosted their FY2024 earnings estimates for Aclaris Therapeutics in a research note issued on Monday, December 23rd. HC Wainwright analyst R. Selvaraju now forecasts that the biotechnology company will post earnings of ($0.58) per share for the year, up from their previous forecast of ($0.66). HC Wainwright has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($0.75) per share. HC Wainwright also issued estimates for Aclaris Therapeutics’ Q4 2024 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.19) EPS and FY2025 earnings at ($0.59) EPS.

Several other research firms also recently commented on ACRS. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 20th. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. 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 report on Tuesday, November 19th. Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Finally, Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.00 to $13.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $11.00.

Aclaris Therapeutics Stock Up 0.3 %

Shares of ACRS stock opened at $2.90 on Wednesday. The firm has a market cap of $207.15 million, a P/E ratio of -5.58 and a beta of 0.44. The business has a 50-day moving average price of $2.79 and a two-hundred day moving average price of $1.76. Aclaris Therapeutics has a 12-month low of $0.86 and a 12-month high of $5.17.

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). The company had revenue of $4.35 million during 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%.

Insider Buying and Selling

In other Aclaris Therapeutics news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the purchase, the director now directly owns 710,030 shares in the company, valued at $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 can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

Institutional Trading of Aclaris Therapeutics

Hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics in the 2nd quarter worth about $119,000. Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics in the third quarter valued at about $214,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 buying an additional 216,826 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Aclaris Therapeutics by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Aclaris Therapeutics during the third quarter valued at $1,053,000. 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.