Aclaris Therapeutics (NASDAQ:ACRS)‘s stock had its “buy” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday. They currently have a $50.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 153.16% from the company’s previous close.
The analysts wrote, “Takeways from the quarter that support our positive thesis: 1) Approval of Eskata for SK in mid-December, 2) A productive R&D Day on 10/4/17, 3) The initiation of three Phase 2 trials of ATI-502 to treat Alopecia Areata (AA) and the initiation of a Phase 2 trial of ATI-502 to treat vitiligo, 4) The presentation of pre-clinical data on ATI-450 at the American College of Rheumatology annual meeting, suggesting the potential for ATI-450 as an oral treatment for Cryopyrin associated periodic syndromes (CAPS) in November, And 5) Cash and equivalents totaled $208.9MM at 12/31/17, which should fund operations through 2H19.””
A number of other analysts also recently issued reports on ACRS. BidaskClub raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Zacks Investment Research raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, February 19th. Finally, Guggenheim initiated coverage on Aclaris Therapeutics in a research report on Thursday, February 8th. They issued a “buy” rating and a $53.00 target price for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Aclaris Therapeutics has a consensus rating of “Hold” and a consensus price target of $41.80.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in Aclaris Therapeutics by 27.9% in the 4th quarter. Franklin Resources Inc. now owns 2,596,814 shares of the biotechnology company’s stock valued at $64,037,000 after acquiring an additional 565,945 shares in the last quarter. BlackRock Inc. grew its position in Aclaris Therapeutics by 28.4% in the 4th quarter. BlackRock Inc. now owns 2,195,028 shares of the biotechnology company’s stock valued at $54,129,000 after acquiring an additional 485,146 shares in the last quarter. Eagle Asset Management Inc. grew its position in Aclaris Therapeutics by 1.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,549 shares of the biotechnology company’s stock valued at $36,446,000 after acquiring an additional 22,576 shares in the last quarter. Point72 Asset Management L.P. grew its position in Aclaris Therapeutics by 3.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 892,298 shares of the biotechnology company’s stock valued at $23,030,000 after acquiring an additional 29,896 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Aclaris Therapeutics by 14.2% in the 2nd quarter. Vanguard Group Inc. now owns 812,318 shares of the biotechnology company’s stock valued at $22,029,000 after acquiring an additional 100,799 shares in the last quarter. 92.40% of the stock is owned by institutional investors.
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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