Aclaris Therapeutics, Inc. (ACRS) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) from a buy rating to a hold rating in a research note issued to investors on Wednesday 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 equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $50.00 price target on shares of Aclaris Therapeutics in a research note on Monday, September 18th. Jefferies Group LLC reiterated a buy rating and set a $36.00 price objective on shares of Aclaris Therapeutics in a research report on Monday, July 31st. BidaskClub upgraded shares of Aclaris Therapeutics from a hold rating to a buy rating in a report on Monday, July 24th. Guggenheim restated a buy rating and issued a $40.00 price target on shares of Aclaris Therapeutics in a report on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Aclaris Therapeutics from a sell rating to a hold rating in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $39.20.
Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.12.
In other news, Director Andrew N. Schiff acquired 108,601 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $23.02 per share, for a total transaction of $2,499,995.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 16.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ardsley Advisory Partners purchased a new stake in Aclaris Therapeutics in the 2nd quarter valued at about $407,000. California State Teachers Retirement System grew its position in Aclaris Therapeutics by 60.8% in the 2nd quarter. California State Teachers Retirement System now owns 35,696 shares of the biotechnology company’s stock valued at $968,000 after acquiring an additional 13,500 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Aclaris Therapeutics by 69.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,831 shares of the biotechnology company’s stock valued at $429,000 after acquiring an additional 6,502 shares in the last quarter. Redmile Group LLC grew its position in Aclaris Therapeutics by 4.3% in the 2nd quarter. Redmile Group LLC now owns 94,560 shares of the biotechnology company’s stock valued at $2,564,000 after acquiring an additional 3,860 shares in the last quarter. Finally, State Street Corp grew its position in Aclaris Therapeutics by 67.1% in the 2nd quarter. State Street Corp now owns 330,755 shares of the biotechnology company’s stock valued at $8,971,000 after acquiring an additional 132,866 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.
About Aclaris Therapeutics
Aclaris Therapeutics, Inc is a dermatologist-led, biopharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated drugs for the treatment of dermatological indications. The Company is also focused on the discovery and development of kinase inhibitors to treat inflammatory and immunological disorders and cancer.
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