Aclaris Therapeutics Inc. (ACRS) Coverage Initiated at JMP Securities
Equities researchers at JMP Securities began coverage on shares of Aclaris Therapeutics Inc. (NASDAQ:ACRS) in a report released on Friday. The firm set an “outperform” rating on the stock.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Jefferies Group boosted their price objective on shares of Aclaris Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Finally, Guggenheim began coverage on shares of Aclaris Therapeutics in a research report on Friday, June 10th. They set a “buy” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $31.25.
Shares of Aclaris Therapeutics (NASDAQ:ACRS) traded up 1.43% during mid-day trading on Friday, hitting $25.52. 18,854 shares of the stock traded hands. The firm has a 50 day moving average of $22.28 and a 200 day moving average of $20.05. Aclaris Therapeutics has a 12 month low of $10.99 and a 12 month high of $33.88. The company’s market cap is $546.51 million.
Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 11th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by $0.01. Equities analysts anticipate that Aclaris Therapeutics will post ($2.61) EPS for the current fiscal year.
In other news, major shareholder Ra Capital Management, Llc sold 525,550 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $24.19, for a total transaction of $12,713,054.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kamil Ali-Jackson sold 1,841 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $24.66, for a total transaction of $45,399.06. Following the sale, the insider now owns 77,798 shares of the company’s stock, valued at approximately $1,918,498.68. The disclosure for this sale can be found here. Insiders own 46.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors increased its stake in shares of Aclaris Therapeutics by 47.0% in the second quarter. Nationwide Fund Advisors now owns 5,747 shares of the company’s stock valued at $106,000 after buying an additional 1,838 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new stake in Aclaris Therapeutics during the second quarter valued at approximately $185,000. Teachers Advisors Inc. increased its stake in Aclaris Therapeutics by 91.0% in the second quarter. Teachers Advisors Inc. now owns 14,212 shares of the company’s stock valued at $262,000 after buying an additional 6,772 shares during the period. Swiss National Bank acquired a new stake in Aclaris Therapeutics during the second quarter valued at approximately $283,000. Finally, Sabby Management LLC acquired a new stake in Aclaris Therapeutics during the second quarter valued at approximately $292,000. Institutional investors and hedge funds own 71.39% 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 differentiated therapies in dermatology. The Company’s drug candidate, A-101 is being developed as an in-office treatment for seborrheic keratosis, a non-cancerous skin tumor, as well as for other cutaneous indications, such as common warts.
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