Aclaris Therapeutics’ (ACRS) Buy Rating Reiterated at Cantor Fitzgerald

Aclaris Therapeutics (NASDAQ:ACRS)‘s stock had its “buy” rating reiterated by Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. They currently have a $50.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 325.53% from the stock’s previous close.

The analysts wrote, “: Post a solid quarter of execution, and ahead of what we expect to be important positive catalysts for the company, we are reiterating our OW rating and 12-month PT of $50 for ACRS shares. We expect upward earnings revisions to levels not yet reflected in sell-side consensus expectations to drive the stock higher. This could come from the commercialization and/or advancement of each of ACRS’s key assets. These are: 1) An acceleration in the uptake of Eskata for SK and Rhofade for rosacea, 2) A-101 Phase 3 data for warts, 3) ATI-501 and ATI-502 data releases throughout 2018 and 2019, and, 4) The advancement of ATI-450.””

A number of other research analysts also recently issued reports on ACRS. Zacks Investment Research upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Finally, JMP Securities decreased their price target on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, October 16th. One 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 company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.60.

Shares of ACRS stock traded down $0.49 during trading on Tuesday, reaching $11.75. The company’s stock had a trading volume of 207,338 shares, compared to its average volume of 298,545. The stock has a market capitalization of $378.58 million, a P/E ratio of -4.70 and a beta of 1.50. Aclaris Therapeutics has a 1-year low of $11.00 and a 1-year high of $26.25.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Friday, August 3rd. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.04. Aclaris Therapeutics had a negative net margin of 1,584.99% and a negative return on equity of 49.45%. The company had revenue of $3.68 million during the quarter, compared to the consensus estimate of $2.76 million. Equities analysts forecast that Aclaris Therapeutics will post -4.54 earnings per share for the current fiscal year.

In other news, Director Stephen A. Tullman purchased 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average price of $15.97 per share, for a total transaction of $99,812.50. Following the completion of the purchase, the director now directly owns 163,757 shares of the company’s stock, valued at $2,615,199.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anand Mehra purchased 372,093 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was purchased 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. Insiders purchased 392,043 shares of company stock valued at $4,298,212 in the last quarter. 17.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Aclaris Therapeutics by 31.1% during the 2nd quarter. FMR LLC now owns 3,355,785 shares of the biotechnology company’s stock worth $67,015,000 after buying an additional 796,805 shares during the last quarter. BlackRock Inc. lifted its position in shares of Aclaris Therapeutics by 9.7% during the 2nd quarter. BlackRock Inc. now owns 2,311,641 shares of the biotechnology company’s stock worth $46,163,000 after buying an additional 204,215 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Aclaris Therapeutics by 88.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 399,342 shares of the biotechnology company’s stock worth $7,975,000 after buying an additional 187,545 shares during the last quarter. C WorldWide Group Holding A S lifted its position in shares of Aclaris Therapeutics by 221.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 242,251 shares of the biotechnology company’s stock worth $4,838,000 after buying an additional 166,986 shares during the last quarter. Finally, Millennium Management LLC lifted its position 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 buying an additional 99,029 shares during the last quarter. 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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