Zacks: Aclaris Therapeutics Inc. (NASDAQ:ACRS) Given Consensus Rating of “Strong Buy” by Brokerages
Shares of Aclaris Therapeutics Inc. (NASDAQ:ACRS) have been given a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus price target of $33.33 for the company and are predicting that the company will post ($0.68) EPS for the current quarter, according to Zacks. Zacks has also assigned Aclaris Therapeutics an industry rank of 88 out of 265 based on the ratings given to its competitors.
ACRS has been the subject of several recent analyst reports. Guggenheim initiated coverage on shares of Aclaris Therapeutics in a research note on Friday, June 10th. They issued a “buy” rating and a $35.00 target price for the company. Jefferies Group lifted their target price on shares of Aclaris Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Zacks Investment Research raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 6th.
Shares of Aclaris Therapeutics (NASDAQ:ACRS) opened at 24.50 on Monday. The company’s market capitalization is $524.67 million. Aclaris Therapeutics has a 1-year low of $10.99 and a 1-year high of $33.88. The stock has a 50 day moving average price of $21.21 and a 200 day moving average price of $19.73.
Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Thursday, August 11th. The company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.01. On average, equities analysts anticipate that Aclaris Therapeutics will post ($2.61) EPS for the current fiscal year.
In other Aclaris Therapeutics news, major shareholder Ra Capital Management, Llc sold 525,550 shares of Aclaris Therapeutics stock in a transaction on Friday, September 16th. The shares were sold at an average price of $24.19, for a total value of $12,713,054.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kamil Ali-Jackson sold 3,738 shares of Aclaris Therapeutics stock in a transaction on Friday, August 26th. The shares were sold at an average price of $20.35, for a total transaction of $76,068.30. Following the completion of the transaction, the insider now owns 20,289 shares in the company, valued at approximately $412,881.15. The disclosure for this sale can be found here. 46.40% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in ACRS. Schwab Charles Investment Management Inc. raised its position in shares of Aclaris Therapeutics by 40.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,715 shares of the company’s stock worth $439,000 after buying an additional 6,852 shares during the period. Sabby Management LLC bought a new position in shares of Aclaris Therapeutics during the second quarter worth $292,000. Opaleye Management Inc. raised its position in Aclaris Therapeutics by 122.2% in the second quarter. Opaleye Management Inc. now owns 40,000 shares of the company’s stock valued at $326,000 after buying an additional 22,000 shares during the last quarter. State Street Corp raised its position in Aclaris Therapeutics by 64.8% in the second quarter. State Street Corp now owns 120,010 shares of the company’s stock valued at $2,217,000 after buying an additional 47,179 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in Aclaris Therapeutics by 91.0% in the second quarter. Teachers Advisors Inc. now owns 14,212 shares of the company’s stock valued at $262,000 after buying an additional 6,772 shares during the last quarter. Institutional investors own 71.39% of the company’s stock.
About Aclaris Therapeutics
Aclaris Therapeutics, Inc is a United States-based clinical-stage specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated therapies in dermatology. The Company’s drug candidate, A-101 is being developed as an in-office treatment for seborrheic keratosis, a non-cancerous skin tumor, as well as for other cutaneous indications, such as common warts.
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