Aclaris Therapeutics (NASDAQ:ACRS) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($1.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.25) by $0.19, Morningstar.com reports. Aclaris Therapeutics had a negative return on equity of 49.45% and a negative net margin of 1,584.99%. The firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.58 million.
Shares of ACRS traded up $0.27 during trading hours on Wednesday, hitting $12.02. The stock had a trading volume of 582,129 shares, compared to its average volume of 299,858. The company has a market cap of $378.58 million, a PE ratio of -4.81 and a beta of 1.50. Aclaris Therapeutics has a 1-year low of $11.00 and a 1-year high of $26.25.
A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price target on shares of Aclaris Therapeutics in a report on Tuesday. Zacks Investment Research upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 29th. JMP Securities decreased their price target on Aclaris Therapeutics from $47.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 16th. Finally, BidaskClub upgraded Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Aclaris Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $41.60.
Several institutional investors and hedge funds have recently modified their holdings of ACRS. Royal Bank of Canada grew its stake in shares of Aclaris Therapeutics by 561.0% in the 1st quarter. Royal Bank of Canada now owns 6,517 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 5,531 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Aclaris Therapeutics by 518.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 8,361 shares of the biotechnology company’s stock valued at $146,000 after buying an additional 7,009 shares during the period. Bank of Montreal Can acquired a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at about $159,000. Granite Investment Partners LLC acquired a new stake in shares of Aclaris Therapeutics in the 2nd quarter valued at about $164,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Aclaris Therapeutics in the 1st quarter valued at about $198,000. Institutional investors own 99.83% 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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