Zacks Investment Research lowered shares of Aclaris Therapeutics (NASDAQ:ACRS) from a buy rating to a hold rating in a research note published on Thursday morning.
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. “
Other analysts have also issued reports about the stock. Cantor Fitzgerald reiterated a buy rating and set a $50.00 target price on shares of Aclaris Therapeutics in a report on Tuesday, November 6th. 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 report on Tuesday, October 16th. Finally, BidaskClub upgraded shares of Aclaris Therapeutics from a strong sell rating to a sell rating in a report on Saturday, October 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $40.00.
Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.25) by $0.19. The company had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.58 million. Aclaris Therapeutics had a negative net margin of 1,578.24% and a negative return on equity of 63.74%. On average, sell-side analysts anticipate that Aclaris Therapeutics will post -4 EPS for the current fiscal year.
In related news, Director Stephen A. Tullman acquired 7,100 shares of the stock in a transaction on Thursday, October 4th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $99,400.00. Following the completion of the acquisition, the director now directly owns 177,457 shares of the company’s stock, valued at approximately $2,484,398. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anand Mehra acquired 372,093 shares of the stock in a transaction on Monday, October 22nd. The stock was bought 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. Corporate insiders own 17.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its holdings in Aclaris Therapeutics by 481.8% in the third quarter. Morgan Stanley now owns 383,818 shares of the biotechnology company’s stock worth $5,573,000 after buying an additional 317,847 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Aclaris Therapeutics by 68.6% during the third quarter. MetLife Investment Advisors LLC now owns 22,178 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 9,021 shares during the last quarter. Man Group plc lifted its holdings in shares of Aclaris Therapeutics by 396.1% during the third quarter. Man Group plc now owns 402,624 shares of the biotechnology company’s stock valued at $5,846,000 after purchasing an additional 321,458 shares during the last quarter. Jefferies Group LLC purchased a new position in shares of Aclaris Therapeutics during the third quarter valued at approximately $243,000. Finally, Citadel Advisors LLC lifted its holdings in shares of Aclaris Therapeutics by 1.6% during the third quarter. Citadel Advisors LLC now owns 882,364 shares of the biotechnology company’s stock valued at $12,812,000 after purchasing an additional 14,134 shares during the last quarter. Institutional investors and hedge funds own 72.36% 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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