What’s Ahead for Aclaris Therapeutics, Inc. (ACRS) After Forming Wedge Down Chart Pattern?

December 7, 2017 - By Richard Conner

The stock of Aclaris Therapeutics, Inc. (ACRS) formed a down wedge with $21.45 target or 3.00 % below today’s $22.11 share price. The 6 months wedge indicates high risk for the $681.76M company. If the $21.45 price target is reached, the company will be worth $20.45M 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 0.41% or $0.09 during the last trading session, reaching $22.11. About 268,087 shares traded. Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has risen 25.57% since December 8, 2016 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 had 14 analyst reports since November 2, 2015 according to SRatingsIntel. The firm has “Buy” rating by Jefferies given on Monday, September 19. The rating was maintained by Jefferies with “Buy” on Friday, August 12. The stock of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) earned “Outperform” rating by Leerink Swann on Tuesday, November 29. The rating was maintained by Jefferies on Friday, July 28 with “Buy”. The rating was maintained by Jefferies with “Buy” on Thursday, August 31. The firm earned “Market Perform” rating on Friday, September 30 by JMP Securities. The firm has “Buy” rating by Jefferies given on Monday, June 26. Cantor Fitzgerald maintained Aclaris Therapeutics, Inc. (NASDAQ:ACRS) rating on Wednesday, August 9. Cantor Fitzgerald has “Buy” rating and $5000 target. On Friday, June 10 the stock rating was initiated by Guggenheim with “Buy”. Jefferies initiated the shares of ACRS in report on Monday, November 2 with “Buy” rating.

More notable recent Aclaris Therapeutics, Inc. (NASDAQ:ACRS) news were published by: Globenewswire.com which released: “Aclaris Therapeutics to Announce Third Quarter 2017 Financial Results on …” on October 31, 2017, also Globenewswire.com with their article: “Aclaris Therapeutics Mourns the Passing of Board Member Richard A. Bierly” published on November 09, 2017, Globenewswire.com published: “Aclaris Therapeutics Presents New Data at American College of Rheumatology …” on November 21, 2017. More interesting news about Aclaris Therapeutics, Inc. (NASDAQ:ACRS) were released by: Seekingalpha.com and their article: “Aclaris Therapeutics’ (ACRS) CEO Dr. Neal Walker on Q2 2017 Results – Earnings …” published on August 11, 2017 as well as Globenewswire.com‘s news article titled: “Aclaris Therapeutics Reports Second Quarter 2017 Financial Results” with publication date: August 08, 2017.

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