Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 10.5% After Earnings Beat

Aclaris Therapeutics, Inc. (NASDAQ:ACRSGet Rating)’s share price shot up 10.5% on Thursday following a stronger than expected earnings report. The company traded as high as $15.99 and last traded at $15.91. 4,993 shares changed hands during trading, a decline of 98% from the average session volume of 237,334 shares. The stock had previously closed at $14.40.

The biotechnology company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. Aclaris Therapeutics had a negative net margin of 1,355.98% and a negative return on equity of 42.05%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Aclaris Therapeutics in a report on Wednesday, May 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Aclaris Therapeutics in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Insider Activity at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Andrew N. Schiff sold 19,565 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $15.14, for a total transaction of $296,214.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Aclaris Therapeutics by 133.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,501 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 4,290 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Aclaris Therapeutics by 20.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 10,852 shares of the biotechnology company’s stock worth $158,000 after buying an additional 1,823 shares in the last quarter. Darwin Global Management Ltd. lifted its holdings in shares of Aclaris Therapeutics by 35.6% in the fourth quarter. Darwin Global Management Ltd. now owns 216,143 shares of the biotechnology company’s stock worth $3,143,000 after buying an additional 56,750 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $288,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $438,000. Institutional investors own 97.79% of the company’s stock.

Aclaris Therapeutics Price Performance

The stock has a market capitalization of $1.20 billion, a PE ratio of -13.43 and a beta of 0.60. The business’s fifty day moving average price is $15.04 and its 200-day moving average price is $14.28.

Aclaris Therapeutics Company Profile

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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.

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