Zacks Investment Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a research report released on Tuesday. The firm currently has $11.00 price target 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. “
Several other equities research analysts have also recently weighed in on ACRS. 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 decreased their price objective on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a buy rating for the company in a research report on Tuesday, October 16th. Finally, Cantor Fitzgerald restated a buy rating and issued a $50.00 price target on shares of Aclaris Therapeutics in a report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $40.00.
Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.58 million. Equities research analysts expect that Aclaris Therapeutics will post -4 earnings per share for the current fiscal year.
In related news, Director Anand Mehra purchased 372,093 shares of Aclaris Therapeutics stock in a transaction on Monday, October 22nd. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $3,999,999.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen A. Tullman purchased 7,100 shares of Aclaris Therapeutics stock in a transaction on Thursday, October 4th. The stock was bought at an average price of $14.00 per share, with a total value of $99,400.00. Following the completion of the acquisition, the director now directly owns 177,457 shares of the company’s stock, valued at approximately $2,484,398. The disclosure for this purchase can be found here. Company insiders own 17.00% of the company’s stock.
Large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in Aclaris Therapeutics by 561.0% in the first quarter. Royal Bank of Canada now owns 6,517 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 5,531 shares during the period. Bank of Montreal Can acquired a new stake in Aclaris Therapeutics in the second quarter worth $159,000. Granite Investment Partners LLC acquired a new stake in Aclaris Therapeutics in the second quarter worth $164,000. CIBC Private Wealth Group LLC acquired a new stake in Aclaris Therapeutics in the second quarter worth $200,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Aclaris Therapeutics in the second quarter worth $215,000. Institutional investors and hedge funds own 72.36% of the company’s stock.
Aclaris Therapeutics Company Profile
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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