Zacks Investment Research Upgrades Aclaris Therapeutics Inc. (ACRS) to “Hold”
Aclaris Therapeutics Inc. (NASDAQ:ACRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 analysts have also recently issued research reports about the stock. Jefferies Group increased their price objective on shares of Aclaris Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, September 19th. JMP Securities initiated coverage on shares of Aclaris Therapeutics in a report on Friday, September 30th. They issued an “outperform” rating and a $34.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.80.
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Aclaris Therapeutics (NASDAQ:ACRS) traded up 1.9757% during trading on Tuesday, hitting $22.6896. 58,230 shares of the stock were exchanged. The firm’s market cap is $485.90 million. Aclaris Therapeutics has a 12-month low of $12.99 and a 12-month high of $33.88. The stock’s 50-day moving average price is $23.71 and its 200-day moving average price is $20.82.
Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.01. On average, equities analysts expect that Aclaris Therapeutics will post ($2.60) EPS for the current year.
In related news, insider Kamil Ali-Jackson sold 3,738 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $20.35, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ra Capital Management, Llc sold 525,550 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $24.19, for a total transaction of $12,713,054.50. The disclosure for this sale can be found here. 46.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Aclaris Therapeutics by 63.1% in the first quarter. State Street Corp now owns 72,831 shares of the company’s stock valued at $1,379,000 after buying an additional 28,178 shares during the period. Geode Capital Management LLC raised its position in Aclaris Therapeutics by 18.3% in the first quarter. Geode Capital Management LLC now owns 43,246 shares of the company’s stock valued at $819,000 after buying an additional 6,679 shares during the period. Vivo Capital LLC acquired a new position in Aclaris Therapeutics during the first quarter valued at $79,427,000. Opaleye Management Inc. acquired a new position in Aclaris Therapeutics during the first quarter valued at $341,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Aclaris Therapeutics during the second quarter valued at $185,000. Hedge funds and other 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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