Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

ACRS has been the subject of several other research reports. Cantor Fitzgerald restated a “buy” rating and issued a $50.00 price target on shares of Aclaris Therapeutics in a research note on Monday, September 18th. ValuEngine downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Jefferies Group LLC restated a “buy” rating and issued a $36.00 price target on shares of Aclaris Therapeutics in a research note on Monday, July 31st. JMP Securities restated an “outperform” rating and issued a $39.00 price target on shares of Aclaris Therapeutics in a research note on Friday, September 8th. Finally, BidaskClub downgraded shares of Aclaris Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Aclaris Therapeutics currently has an average rating of “Buy” and an average target price of $39.20.

Shares of Aclaris Therapeutics (ACRS) traded down 1.70% during mid-day trading on Wednesday, reaching $26.57. The company’s stock had a trading volume of 661,855 shares. The stock has a 50 day moving average of $26.07 and a 200-day moving average of $27.12. Aclaris Therapeutics has a one year low of $20.15 and a one year high of $33.25. The stock’s market cap is $710.38 million.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.12. On average, equities research analysts expect that Aclaris Therapeutics will post ($3.10) EPS for the current fiscal year.

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In other news, Director Andrew N. Schiff bought 108,601 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $23.02 per share, for a total transaction of $2,499,995.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 16.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of Aclaris Therapeutics by 55.4% during the second quarter. Franklin Resources Inc. now owns 1,955,381 shares of the biotechnology company’s stock worth $53,030,000 after purchasing an additional 697,104 shares in the last quarter. FMR LLC grew its stake in shares of Aclaris Therapeutics by 14.6% during the second quarter. FMR LLC now owns 1,896,206 shares of the biotechnology company’s stock worth $51,425,000 after purchasing an additional 242,269 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of Aclaris Therapeutics by 287.3% during the second quarter. Eagle Asset Management Inc. now owns 1,357,973 shares of the biotechnology company’s stock worth $36,828,000 after purchasing an additional 1,007,343 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Aclaris Therapeutics by 79.6% during the second quarter. Westfield Capital Management Co. LP now owns 1,249,254 shares of the biotechnology company’s stock worth $33,880,000 after purchasing an additional 553,752 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in shares of Aclaris Therapeutics by 25.4% during the second quarter. Marshall Wace North America L.P. now owns 882,297 shares of the biotechnology company’s stock worth $23,822,000 after purchasing an additional 178,436 shares in the last quarter. Hedge funds and other institutional investors 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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