Aclaris Therapeutics (NASDAQ:ACRS) had its target price cut by Cantor Fitzgerald from $50.00 to $24.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 420.61% from the company’s current price.
Several other research analysts have also recently commented on ACRS. Zacks Investment Research cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. BidaskClub raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, ValuEngine raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Aclaris Therapeutics has a consensus rating of “Hold” and an average target price of $19.69.
Shares of ACRS stock traded down $0.20 on Wednesday, hitting $4.61. The stock had a trading volume of 12,410 shares, compared to its average volume of 515,834. The company has a current ratio of 4.33, a quick ratio of 4.30 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $200.16 million, a PE ratio of -1.16 and a beta of 1.48. Aclaris Therapeutics has a 1 year low of $4.27 and a 1 year high of $21.97.
Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.05). Aclaris Therapeutics had a negative return on equity of 78.05% and a negative net margin of 999.53%. The company had revenue of $5.04 million for the quarter, compared to analyst estimates of $5.13 million. Research analysts predict that Aclaris Therapeutics will post -2.98 EPS for the current fiscal year.
In other news, major shareholder James E. Flynn sold 614,710 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $6.13, for a total transaction of $3,768,172.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Aclaris Therapeutics during the 1st quarter valued at $103,000. BlueMountain Capital Management LLC grew its holdings in Aclaris Therapeutics by 129.6% during the 1st quarter. BlueMountain Capital Management LLC now owns 55,784 shares of the biotechnology company’s stock valued at $334,000 after buying an additional 31,493 shares during the last quarter. Morgan Stanley grew its holdings in Aclaris Therapeutics by 23.8% during the 1st quarter. Morgan Stanley now owns 206,755 shares of the biotechnology company’s stock valued at $1,238,000 after buying an additional 39,712 shares during the last quarter. Man Group plc grew its holdings in Aclaris Therapeutics by 77.9% during the 1st quarter. Man Group plc now owns 1,185,528 shares of the biotechnology company’s stock valued at $7,101,000 after buying an additional 519,098 shares during the last quarter. Finally, Oxford Asset Management LLP grew its holdings in Aclaris Therapeutics by 52.1% during the 1st quarter. Oxford Asset Management LLP now owns 35,230 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 12,072 shares during the last quarter. 91.79% of the stock is 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 for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.
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