Guggenheim Increases Aclaris Therapeutics Inc (ACRS) Price Target to $40.00
ACRS has been the subject of a number of other reports. Zacks Investment Research downgraded Aclaris Therapeutics from a buy rating to a hold rating in a report on Thursday, March 2nd. Jefferies Group LLC reiterated a buy rating and issued a $32.00 target price (up from $29.00) on shares of Aclaris Therapeutics in a report on Friday, November 18th. Finally, Leerink Swann assumed coverage on Aclaris Therapeutics in a report on Tuesday, November 29th. They issued an outperform rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $36.25.
Shares of Aclaris Therapeutics (NASDAQ:ACRS) opened at 28.88 on Wednesday. Aclaris Therapeutics has a 12-month low of $14.12 and a 12-month high of $33.25. The firm’s market cap is $618.96 million. The stock has a 50 day moving average price of $28.79 and a 200 day moving average price of $26.33.
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Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, March 15th. The company reported ($0.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.10. On average, equities analysts expect that Aclaris Therapeutics will post ($3.11) earnings per share for the current year.
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In other news, Director Anand Mehra sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $28.25, for a total transaction of $21,187,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ventures Fund Vii L.P. Vivo sold 425,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $30.82, for a total value of $13,098,500.00. The disclosure for this sale can be found here. Insiders own 46.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC bought a new stake in Aclaris Therapeutics during the fourth quarter valued at $34,219,000. Rock Springs Capital Management LP increased its stake in Aclaris Therapeutics by 1.6% in the third quarter. Rock Springs Capital Management LP now owns 1,016,000 shares of the company’s stock valued at $26,020,000 after buying an additional 16,000 shares during the period. Marshall Wace LLP increased its stake in Aclaris Therapeutics by 286.4% in the fourth quarter. Marshall Wace LLP now owns 466,734 shares of the company’s stock valued at $12,667,000 after buying an additional 345,934 shares during the period. EcoR1 Capital LLC bought a new stake in Aclaris Therapeutics during the fourth quarter valued at $11,236,000. Finally, Deerfield Management Co. increased its stake in Aclaris Therapeutics by 223.3% in the fourth quarter. Deerfield Management Co. now owns 375,000 shares of the company’s stock valued at $10,178,000 after buying an additional 259,000 shares during the period. Hedge funds and other institutional investors own 61.94% of the company’s stock.
Aclaris Therapeutics Company Profile
Aclaris Therapeutics, Inc is a United States-based clinical-stage specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing drugs to address the needs in dermatology. Its lead drug candidate, A-101 Topical Solution, is a hydrogen peroxide topical solution that the Company is developing as a prescription treatment for seborrheic keratosis (SK).
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