Zacks Investment Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a sell rating to a hold rating in a research report sent to investors 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 several other reports. Cantor Fitzgerald set a $50.00 target price on Aclaris Therapeutics and gave the company a buy rating in a research report on Tuesday, June 12th. Leerink Swann cut their target price on Aclaris Therapeutics from $56.00 to $54.00 and set an outperform rating on the stock in a research report on Tuesday, March 13th. Finally, BidaskClub raised Aclaris Therapeutics from a strong sell rating to a sell rating in a research report on Monday, May 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $43.50.
NASDAQ ACRS opened at $19.16 on Tuesday. Aclaris Therapeutics has a 1 year low of $16.01 and a 1 year high of $30.08. The firm has a market capitalization of $590.92 million, a P/E ratio of -7.66 and a beta of 1.61.
Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Tuesday, May 8th. The biotechnology company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.02. The firm had revenue of $1.12 million during the quarter, compared to analyst estimates of $1.00 million. research analysts predict that Aclaris Therapeutics will post -4.36 earnings per share for the current year.
In other Aclaris Therapeutics news, insider Neal Walker purchased 10,000 shares of the stock in a transaction on Thursday, April 5th. The shares were bought at an average cost of $16.75 per share, with a total value of $167,500.00. Following the completion of the acquisition, the insider now owns 897,184 shares in the company, valued at $15,027,832. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen A. Tullman purchased 26,700 shares of the stock in a transaction on Friday, April 6th. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $441,618.00. Following the completion of the acquisition, the director now owns 157,507 shares of the company’s stock, valued at approximately $2,605,165.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 39,700 shares of company stock worth $662,191. 17.00% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Aclaris Therapeutics in the first quarter valued at $198,000. Summit Trail Advisors LLC boosted its stake in shares of Aclaris Therapeutics by 5,594.3% during the 1st quarter. Summit Trail Advisors LLC now owns 135,239 shares of the biotechnology company’s stock worth $135,000 after acquiring an additional 132,864 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Aclaris Therapeutics by 561.0% during the 1st quarter. Royal Bank of Canada now owns 6,517 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 5,531 shares in the last quarter. Highbridge Capital Management LLC boosted its stake in shares of Aclaris Therapeutics by 50.0% during the 1st quarter. Highbridge Capital Management LLC now owns 300,000 shares of the biotechnology company’s stock worth $5,256,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Aclaris Therapeutics by 839.4% during the 1st quarter. Millennium Management LLC now owns 110,827 shares of the biotechnology company’s stock worth $1,942,000 after acquiring an additional 99,029 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors.
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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