Zacks Investment Research cut shares of Aclaris Therapeutics (NASDAQ:ACRS) from a buy rating to a hold rating in a research note released on Tuesday.
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 topic of a number of other research reports. BidaskClub downgraded Aclaris Therapeutics from a sell rating to a strong sell rating in a research note on Thursday, November 8th. Cantor Fitzgerald set a $50.00 price target on Aclaris Therapeutics and gave the stock a buy rating in a research note on Friday, August 3rd. 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 research note on Tuesday, October 16th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $39.70.
Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.19. The firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.58 million. Aclaris Therapeutics had a negative return on equity of 63.74% and a negative net margin of 1,578.24%. On average, analysts predict that Aclaris Therapeutics will post -4 earnings per share for the current year.
In related news, Director Anand Mehra bought 372,093 shares of the stock in a transaction on Monday, October 22nd. The shares were bought at an average cost of $10.75 per share, for a total transaction of $3,999,999.75. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen A. Tullman bought 7,100 shares of the stock in a transaction on Thursday, October 4th. The stock was bought at an average price of $14.00 per share, for a total transaction of $99,400.00. Following the completion of the purchase, the director now directly owns 177,457 shares in the company, valued at approximately $2,484,398. The disclosure for this purchase can be found here. Company insiders own 17.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of Aclaris Therapeutics by 31.1% in the 2nd quarter. FMR LLC now owns 3,355,785 shares of the biotechnology company’s stock valued at $67,015,000 after purchasing an additional 796,805 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Aclaris Therapeutics by 8.9% in the 3rd quarter. BlackRock Inc. now owns 2,517,412 shares of the biotechnology company’s stock valued at $36,551,000 after buying an additional 205,771 shares during the period. Citadel Advisors LLC lifted its holdings in shares of Aclaris Therapeutics by 1.6% in the 3rd quarter. Citadel Advisors LLC now owns 882,364 shares of the biotechnology company’s stock valued at $12,812,000 after buying an additional 14,134 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Aclaris Therapeutics by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 423,001 shares of the biotechnology company’s stock valued at $8,447,000 after buying an additional 31,339 shares during the period. Finally, Man Group plc lifted its holdings in shares of Aclaris Therapeutics by 396.1% in the 3rd quarter. Man Group plc now owns 402,624 shares of the biotechnology company’s stock valued at $5,846,000 after buying an additional 321,458 shares during the period. Institutional investors own 99.43% 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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