Aclaris Therapeutics (ACRS) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $13.00 price objective on the biotechnology company’s stock.

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. “

Several other research analysts have also recently weighed in on ACRS. BidaskClub cut Aclaris Therapeutics from a sell rating to a strong sell rating in a report on Thursday. Cantor Fitzgerald restated a buy rating on shares of Aclaris Therapeutics in a report on Tuesday, July 17th. Finally, JMP Securities lowered their target price on Aclaris Therapeutics from $47.00 to $34.00 and set a buy rating on the stock in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Aclaris Therapeutics presently has a consensus rating of Buy and a consensus target price of $40.40.

Shares of Aclaris Therapeutics stock traded down $1.01 on Friday, hitting $10.62. 291,773 shares of the company were exchanged, compared to its average volume of 612,393. The stock has a market cap of $372.39 million, a P/E ratio of -4.25 and a beta of 1.50. Aclaris Therapeutics has a 1-year low of $10.52 and a 1-year high of $26.25.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.25) by $0.19. The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.58 million. Aclaris Therapeutics had a negative return on equity of 63.74% and a negative net margin of 1,578.24%. As a group, research analysts forecast that Aclaris Therapeutics will post -4.27 earnings per share for the current fiscal year.

In other Aclaris Therapeutics news, Director Stephen A. Tullman acquired 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average cost of $15.97 per share, for a total transaction of $99,812.50. Following the completion of the acquisition, the director now owns 163,757 shares of the company’s stock, valued at approximately $2,615,199.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen A. Tullman acquired 6,600 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now directly owns 170,357 shares of the company’s stock, valued at approximately $2,555,355. The disclosure for this purchase can be found here. Insiders purchased 392,043 shares of company stock worth $4,298,212 over the last quarter. 17.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Aclaris Therapeutics by 9.7% in the second quarter. BlackRock Inc. now owns 2,311,641 shares of the biotechnology company’s stock valued at $46,163,000 after acquiring an additional 204,215 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Aclaris Therapeutics by 518.4% in the first quarter. Cubist Systematic Strategies LLC now owns 8,361 shares of the biotechnology company’s stock valued at $146,000 after acquiring an additional 7,009 shares during the last quarter. FMR LLC lifted its holdings in Aclaris Therapeutics by 31.1% in the second quarter. FMR LLC now owns 3,355,785 shares of the biotechnology company’s stock valued at $67,015,000 after acquiring an additional 796,805 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in Aclaris Therapeutics by 32.7% in the second quarter. MetLife Investment Advisors LLC now owns 13,157 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 3,244 shares during the last quarter. Finally, Millennium Management LLC raised its position in Aclaris Therapeutics by 839.4% in the first quarter. Millennium Management LLC now owns 110,827 shares of the biotechnology company’s stock valued at $1,942,000 after purchasing an additional 99,029 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Aclaris Therapeutics Company Profile

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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