Zacks Investment Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a sell rating to a hold rating in a research report report published on Monday.
According to Zacks, “Aclaris Therapeutics, Inc. is a specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing drugs to met needs in dermatology. Its drug candidate consists of A-101, a high-concentration hydrogen peroxide topical solution which is being developed as a prescription treatment for seborrheic keratosis a common non-malignant skin tumor and A-102, a proprietary topical gel dosage form of hydrogen peroxide for the treatment of SK and common warts which are in different clinical trial. Aclaris Therapeutics, Inc. is headquartered in Malvern, Pennsylvania. “
ACRS has been the subject of a number of other research reports. Cantor Fitzgerald set a $50.00 target price on shares of Aclaris Therapeutics and gave the stock a buy rating in a research report on Monday, July 9th. BidaskClub lowered shares of Aclaris Therapeutics from a sell rating to a strong sell rating in a research report on Saturday, August 25th. Finally, JMP Securities dropped their target price on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a buy rating for the company in a research report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $41.60.
Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Friday, August 3rd. The biotechnology company reported ($1.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.05) by $0.04. Aclaris Therapeutics had a negative net margin of 1,584.99% and a negative return on equity of 49.45%. The firm had revenue of $3.68 million during the quarter, compared to analyst estimates of $2.76 million. Equities analysts forecast that Aclaris Therapeutics will post -4.54 earnings per share for the current fiscal year.
In other Aclaris Therapeutics news, Director Stephen A. Tullman acquired 6,600 shares of the stock in a transaction on Thursday, August 23rd. The stock was acquired at an average price of $15.00 per share, for a total transaction of $99,000.00. Following the completion of the transaction, the director now directly owns 170,357 shares of the company’s stock, valued at $2,555,355. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anand Mehra acquired 372,093 shares of the stock in a transaction on Monday, October 22nd. The shares were acquired at an average price of $10.75 per share, with a total value of $3,999,999.75. The disclosure for this purchase can be found here. Insiders have acquired 392,043 shares of company stock valued at $4,298,212 in the last quarter. 17.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC lifted its position in Aclaris Therapeutics by 32.7% during the second quarter. MetLife Investment Advisors LLC now owns 13,157 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 3,244 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Aclaris Therapeutics by 7.4% during the first quarter. Russell Investments Group Ltd. now owns 49,450 shares of the biotechnology company’s stock valued at $867,000 after purchasing an additional 3,421 shares during the last quarter. Alps Advisors Inc. lifted its position in Aclaris Therapeutics by 8.4% during the second quarter. Alps Advisors Inc. now owns 44,847 shares of the biotechnology company’s stock valued at $896,000 after purchasing an additional 3,478 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Aclaris Therapeutics by 48.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 11,056 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 3,589 shares during the last quarter. Finally, Cadence Capital Management LLC lifted its position in Aclaris Therapeutics by 12.1% during the second quarter. Cadence Capital Management LLC now owns 33,286 shares of the biotechnology company’s stock valued at $665,000 after purchasing an additional 3,593 shares during the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.
About Aclaris Therapeutics
Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies to address the unmet needs in medical and aesthetic dermatology and immunology in the United States. The company operates in two segments, Dermatology Therapeutics and Contract Research.
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