Could Aclaris Therapeutics, Inc. (ACRS) Gain Strenght After Forming Wedge Down?

January 23, 2018 - By Henry Gaston

The stock of Aclaris Therapeutics, Inc. (ACRS) formed a down wedge with $23.27 target or 8.00 % below today’s $25.29 share price. The 8 months wedge indicates high risk for the $779.81 million company. If the $23.27 price target is reached, the company will be worth $62.38 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 2.02% or $0.5 during the last trading session, reaching $25.29. About 29,528 shares traded. Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has risen 25.57% since January 23, 2017 and is uptrending. It has outperformed by 8.87% the S&P500.

Analysts await Aclaris Therapeutics, Inc. (NASDAQ:ACRS) to report earnings on March, 21. They expect $-0.90 earnings per share, down 83.67 % or $0.41 from last year’s $-0.49 per share. After $-0.63 actual earnings per share reported by Aclaris Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 42.86 % negative EPS growth.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Ratings Coverage

Among 6 analysts covering Aclaris Therapeutics (NASDAQ:ACRS), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Aclaris Therapeutics has $54 highest and $20 lowest target. $40.80’s average target is 61.33% above currents $25.29 stock price. Aclaris Therapeutics had 14 analyst reports since November 2, 2015 according to SRatingsIntel. Cantor Fitzgerald maintained Aclaris Therapeutics, Inc. (NASDAQ:ACRS) on Wednesday, August 9 with “Buy” rating. The firm earned “Buy” rating on Friday, August 12 by Jefferies. The firm earned “Outperform” rating on Tuesday, November 29 by Leerink Swann. The rating was initiated by Citigroup with “Buy” on Monday, November 2. The stock of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) earned “Buy” rating by Cantor Fitzgerald on Tuesday, November 7. The rating was maintained by Jefferies on Monday, September 19 with “Buy”. The firm has “Buy” rating by Jefferies given on Monday, June 26. The firm has “Outperform” rating given on Monday, November 2 by William Blair. As per Friday, September 30, the company rating was initiated by JMP Securities. The firm has “Buy” rating given on Monday, November 2 by Jefferies.

More notable recent Aclaris Therapeutics, Inc. (NASDAQ:ACRS) news were published by: Globenewswire.com which released: “Aclaris Therapeutics Mourns the Passing of Board Member Richard A. Bierly” on November 09, 2017, also Globenewswire.com with their article: “Aclaris Therapeutics Initiates a Pilot Clinical Trial to Study ATI-50002 …” published on December 19, 2017, Globenewswire.com published: “Aclaris Therapeutics to Announce Third Quarter 2017 Financial Results on …” on October 31, 2017. More interesting news about Aclaris Therapeutics, Inc. (NASDAQ:ACRS) were released by: Globenewswire.com and their article: “Aclaris Therapeutics Reports Third Quarter 2017 Financial Results” published on November 07, 2017 as well as Globenewswire.com‘s news article titled: “Aclaris Announces Appointment of Andrew Schiff to Board of Directors” with publication date: August 09, 2017.

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