Aclaris Therapeutics (NASDAQ:ACRS) released its earnings results on Tuesday. The biotechnology company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.19, Morningstar.com reports. 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 $1.63 million for the quarter, compared to analysts’ expectations of $1.58 million.
Shares of Aclaris Therapeutics stock traded up $0.26 on Wednesday, hitting $12.01. 12,924 shares of the company traded hands, compared to its average volume of 598,966. The stock has a market cap of $378.58 million, a P/E ratio of -4.60 and a beta of 1.50. Aclaris Therapeutics has a 52 week low of $11.00 and a 52 week high of $26.25.
A number of research firms have commented on ACRS. Cantor Fitzgerald restated a “buy” rating and set a $50.00 target price on shares of Aclaris Therapeutics in a research note on Tuesday. Zacks Investment Research upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. JMP Securities decreased their target price on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 16th. Finally, BidaskClub upgraded shares of Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $41.60.
In related news, Director Stephen A. Tullman acquired 6,600 shares of Aclaris Therapeutics stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average price of $15.00 per share, for a total transaction of $99,000.00. Following the completion of the transaction, the director now directly owns 170,357 shares in the company, valued at approximately $2,555,355. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anand Mehra acquired 372,093 shares of Aclaris Therapeutics stock in a transaction dated Monday, October 22nd. The shares were bought at an average price of $10.75 per share, for a total transaction of $3,999,999.75. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 392,043 shares of company stock worth $4,298,212. Company insiders own 17.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC raised its position in shares of Aclaris Therapeutics by 32.7% during the second quarter. MetLife Investment Advisors LLC now owns 13,157 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 3,244 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Aclaris Therapeutics by 7.4% during the first quarter. Russell Investments Group Ltd. now owns 49,450 shares of the biotechnology company’s stock valued at $867,000 after buying an additional 3,421 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Aclaris Therapeutics by 8.4% during the second quarter. Alps Advisors Inc. now owns 44,847 shares of the biotechnology company’s stock valued at $896,000 after buying an additional 3,478 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Aclaris Therapeutics by 48.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 11,056 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 3,589 shares during the last quarter. Finally, Cadence Capital Management LLC raised its position in shares of Aclaris Therapeutics by 12.1% during the second quarter. Cadence Capital Management LLC now owns 33,286 shares of the biotechnology company’s stock valued at $665,000 after buying an additional 3,593 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.
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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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