FY2024 EPS Estimates for ACRS Boosted by Cantor Fitzgerald

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Cantor Fitzgerald raised their FY2024 earnings per share estimates for shares of Aclaris Therapeutics in a research note issued to investors on Thursday, November 21st. Cantor Fitzgerald analyst L. Chen now expects that the biotechnology company will post earnings of ($0.60) per share for the year, up from their previous forecast 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.

ACRS has been the topic of several other research reports. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, November 19th. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Stock Down 9.0 %

NASDAQ:ACRS opened at $3.63 on Monday. The firm has a market capitalization of $259.29 million, a price-to-earnings ratio of -6.98 and a beta of 0.10. Aclaris Therapeutics has a twelve month low of $0.77 and a twelve month high of $5.17. The stock’s 50 day moving average price is $1.87 and its two-hundred day moving average price is $1.43.

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 the consensus estimate of ($0.08) by ($0.03). The company had revenue of $4.35 million for 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%.

Institutional Trading of Aclaris Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. BML Capital Management LLC boosted its stake in 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. Stonepine Capital Management LLC bought a new stake in Aclaris Therapeutics in the 2nd quarter valued at $2,120,000. Trium Capital LLP bought a new stake in Aclaris Therapeutics in the 2nd quarter valued at $2,081,000. Russell Investments Group Ltd. boosted its stake in Aclaris Therapeutics by 5,265.1% in the 1st 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 period. Finally, Millennium Management LLC lifted its position in shares of Aclaris Therapeutics by 1.9% during 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 during the period. 98.34% of the stock is currently owned by institutional investors.

Insider Activity at Aclaris Therapeutics

In other news, Director Anand Mehra purchased 666,666 shares of Aclaris Therapeutics stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired 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 of the company’s stock, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

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.