Zacks Investment Research Upgrades Aclaris Therapeutics (ACRS) to Buy
Zacks Investment Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $11.00 target price on the biotechnology company’s stock.
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 have also recently issued reports about the stock. BidaskClub cut shares of Aclaris Therapeutics from a sell rating to a strong sell rating in a research report on Saturday, August 25th. JMP Securities cut their price target on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a buy rating on the stock in a research report on Tuesday, October 16th. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $50.00 target price on shares of Aclaris Therapeutics in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Aclaris Therapeutics presently has an average rating of Buy and an average target price of $40.00.
Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.19. Aclaris Therapeutics had a negative net margin of 1,578.24% and a negative return on equity of 63.74%. The firm had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.58 million. As a group, sell-side analysts expect that Aclaris Therapeutics will post -4 earnings per share for the current year.
In other news, Director Stephen A. Tullman bought 7,100 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were bought at an average cost of $14.00 per share, with a total value of $99,400.00. Following the acquisition, the director now owns 177,457 shares in the company, valued at $2,484,398. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anand Mehra bought 372,093 shares of the company’s stock in a transaction dated Monday, October 22nd. The stock was purchased at an average cost of $10.75 per share, for a total transaction of $3,999,999.75. The disclosure for this purchase can be found here. 17.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of Aclaris Therapeutics by 481.8% in the 3rd quarter. Morgan Stanley now owns 383,818 shares of the biotechnology company’s stock valued at $5,573,000 after purchasing an additional 317,847 shares during the period. MetLife Investment Advisors LLC raised its holdings in shares of Aclaris Therapeutics by 68.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 22,178 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 9,021 shares during the period. Man Group plc raised its holdings in shares of Aclaris Therapeutics by 396.1% in the 3rd quarter. Man Group plc now owns 402,624 shares of the biotechnology company’s stock valued at $5,846,000 after purchasing an additional 321,458 shares during the period. Jefferies Group LLC bought a new stake in shares of Aclaris Therapeutics in the 3rd quarter valued at about $243,000. Finally, Citadel Advisors LLC raised its holdings in shares of Aclaris Therapeutics by 1.6% in the 3rd quarter. Citadel Advisors LLC now owns 882,364 shares of the biotechnology company’s stock valued at $12,812,000 after purchasing an additional 14,134 shares during the period. 72.36% 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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