Aclaris Therapeutics Inc (ACRS) Given Average Rating of “Buy” by Brokerages

Shares of Aclaris Therapeutics Inc (NASDAQ:ACRS) have been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $40.40.

ACRS has been the topic of a number of recent analyst reports. JMP Securities lowered their price target on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 16th. Zacks Investment Research raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, August 8th. Cantor Fitzgerald set a $50.00 price target on shares of Aclaris Therapeutics and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, BidaskClub raised shares of Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th.

NASDAQ:ACRS opened at $10.62 on Friday. Aclaris Therapeutics has a fifty-two week low of $10.52 and a fifty-two week high of $26.25. The firm has a market cap of $364.02 million, a PE ratio of -4.25 and a beta of 1.50.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, topping the Zacks’ 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 59.47%. The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.58 million. Research analysts predict that Aclaris Therapeutics will post -4.54 earnings per share for the current year.

In other Aclaris Therapeutics news, Director Stephen A. Tullman acquired 6,250 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average cost of $15.97 per share, with a total value of $99,812.50. Following the purchase, the director now owns 163,757 shares in the company, valued at $2,615,199.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen A. Tullman acquired 6,600 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $99,000.00. Following the completion of the purchase, the director now owns 170,357 shares in the company, valued at approximately $2,555,355. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 392,043 shares of company stock worth $4,298,212. 17.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Aclaris Therapeutics by 9.7% in the 2nd quarter. BlackRock Inc. now owns 2,311,641 shares of the biotechnology company’s stock valued at $46,163,000 after acquiring an additional 204,215 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Aclaris Therapeutics by 518.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 8,361 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 7,009 shares in the last quarter. FMR LLC lifted its holdings in Aclaris Therapeutics by 31.1% in the 2nd quarter. FMR LLC now owns 3,355,785 shares of the biotechnology company’s stock valued at $67,015,000 after purchasing an additional 796,805 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in Aclaris Therapeutics by 32.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 13,157 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 3,244 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Aclaris Therapeutics by 839.4% in the 1st quarter. Millennium Management LLC now owns 110,827 shares of the biotechnology company’s stock valued at $1,942,000 after purchasing an additional 99,029 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

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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