Aclaris Therapeutics

ACRS · NASDAQ

$3.77+$0.29 (+8.33%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $3.48

ACRS analyst rating

BuyConsensus of 7 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy7
Hold0
Underperform0
Sell0

12-month price target · 14 analysts

Average $10.16 (+169.4% upside)

Low: $4.04
Now: $3.77
High: $16.80

Upgrades and downgrades

The latest rating actions, newest first

ACRS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Canaccord Genuity	Sep 1, 2026	Initiates	Buy	$10.00	44%
LifeSci Capital	Jun 2, 2026	Initiates	Outperform	$13.00	—
Piper Sandler	May 5, 2026	Maintains	Overweight	$7.00 → $11.00	40%
Guggenheim	May 5, 2026	Initiates	Buy	$12.00	57%
Wedbush	Apr 29, 2026	Maintains	Outperform	$8.00 → $10.00	40%
Oppenheimer	Apr 16, 2026	Initiates	Outperform	$10.00	33%
Wedbush	Mar 31, 2026	Maintains	Outperform	$8.00	40%
HC Wainwright & Co.	Mar 19, 2026	Maintains	Buy	$16.00	43%
HC Wainwright & Co.	Jan 28, 2026	Maintains	Buy	$16.00	43%
HC Wainwright & Co.	Jan 21, 2026	Maintains	Buy	$16.00	43%

The case for and against

Updated Oct 21, 2026

Bull case

Aclaris Therapeutics is viewed positively because it has multiple credible pipeline-in-product shots on goal, led by ATI-2138 with positive Phase 2a data in moderate-to-severe AD and a planned Phase 2b study in lichen planus, an untapped $2B potential market with estimated ~$700M peak U.S. risk-adjusted sales. Its selective ITK strategy through ATI-9494 and the KINect platform adds a potentially differentiated, once-daily fast-follower asset with IP out to the late 2040s, while ATI-052 provides additional upside optionality after encouraging Phase 1 SAD/MAD data showing dose-proportional PK, ~45-day half-life, and concentration-dependent PD. The company also benefits from an experienced I&I team and a catalyst-rich path over the next 18-24 months, with upcoming readouts in asthma and AD that could further validate its platform and strengthen the investment case.

Bear case

Aclaris Therapeutics is viewed negatively because its thesis depends on a narrow set of early-stage programs that each carry substantial clinical and execution risk, making the pipeline highly sensitive to adverse trial outcomes. The bear case assumes only a 50% probability of success for ATI-052, with the asset failing to show a competitive profile in asthma or AD, while ATI-2138 and ATI-9494 each carry only a 30% probability of success due to lichen planus failure risk and a material delay into the clinic, respectively. With Bosakitug, Lepzacitinib, and the broader platform still dependent on unproven clinical differentiation, the company’s fundamental value remains vulnerable to repeated setbacks rather than supported by durable commercial or financial strength.

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