HC Wainwright Comments on Aclaris Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:ACRS)

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) – Equities researchers at HC Wainwright upped their FY2023 EPS estimates for Aclaris Therapeutics in a research note issued to investors on Monday, November 13th. HC Wainwright analyst R. Selvaraju now forecasts that the biotechnology company will earn ($1.76) per share for the year, up from their prior estimate of ($1.93). HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Aclaris Therapeutics’ current full-year earnings is ($1.73) per share. HC Wainwright also issued estimates for Aclaris Therapeutics’ Q4 2023 earnings at ($0.50) EPS, Q1 2024 earnings at ($0.41) EPS, Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.39) EPS, Q4 2024 earnings at ($0.40) EPS and FY2024 earnings at ($1.57) EPS.

Several other analysts have also weighed in on ACRS. Leerink Partnrs lowered Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday. Stifel Nicolaus restated a “hold” rating on shares of Aclaris Therapeutics in a research report on Monday. Evercore ISI initiated coverage on Aclaris Therapeutics in a report on Tuesday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. William Blair cut Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.17.

Aclaris Therapeutics Trading Up 5.5 %

Shares of ACRS stock opened at $0.68 on Wednesday. Aclaris Therapeutics has a 12 month low of $0.59 and a 12 month high of $18.96. The stock has a 50 day moving average of $5.85 and a 200-day moving average of $7.94.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.07. Aclaris Therapeutics had a negative return on equity of 64.53% and a negative net margin of 534.83%. The company had revenue of $9.30 million during the quarter, compared to the consensus estimate of $1.57 million. During the same quarter in the prior year, the company posted ($0.30) EPS. The firm’s revenue was down 51.1% on a year-over-year basis.

Insider Activity

In related news, insider Joseph Monahan sold 6,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $7.32, for a total transaction of $43,920.00. Following the sale, the insider now owns 135,724 shares of the company’s stock, valued at $993,499.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider James Loerop purchased 14,705 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $6.80 per share, for a total transaction of $99,994.00. Following the purchase, the insider now owns 21,688 shares of the company’s stock, valued at $147,478.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Monahan sold 6,000 shares of Aclaris Therapeutics stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $7.32, for a total value of $43,920.00. Following the sale, the insider now directly owns 135,724 shares in the company, valued at $993,499.68. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Bain Capital Life Sciences Investors LLC bought a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at about $27,506,000. Wellington Management Group LLP raised its stake in Aclaris Therapeutics by 34.4% during the 1st quarter. Wellington Management Group LLP now owns 7,372,601 shares of the biotechnology company’s stock worth $59,644,000 after buying an additional 1,888,588 shares during the period. Blackstone Inc. raised its position in shares of Aclaris Therapeutics by 9,578.7% during the third quarter. Blackstone Inc. now owns 1,261,425 shares of the biotechnology company’s stock worth $8,641,000 after purchasing an additional 1,248,392 shares during the period. Samlyn Capital LLC bought a new position in shares of Aclaris Therapeutics in the first quarter valued at $8,507,000. Finally, Braidwell LP increased its holdings in Aclaris Therapeutics by 36.6% during the 1st quarter. Braidwell LP now owns 3,269,094 shares of the biotechnology company’s stock worth $26,447,000 after purchasing an additional 875,109 shares in the last quarter.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc operates a clinical-stage biopharmaceutical company, develops novel drug candidates for immune-inflammatory diseases in the United States. It operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing innovative therapies to address significant unmet needs for immuno-inflammatory diseases.