Aclaris Therapeutics, Inc. (ACRS) Rating Reiterated by Cantor Fitzgerald
Cantor Fitzgerald reissued their buy rating on shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) in a research report report published on Tuesday. The firm currently has a $50.00 target price on the biotechnology company’s stock.
“Positives from the quarter: 1) ACRS acquired Confluence Life Sciences (private) for $20MM upfront, consisting of $10MM in cash and $10MM in stock, 2) ACRS submitted a MAA for A-101 40% for the treatment of SK in Sweden, which is to serve as the reference member state, 3) ACRS appointed Andrew Schiff to its Board of Directors, 4) The USPTO issued two patents covering JAK inhibitors for treating hair loss disorders, covering a total of 32 claims out to November 2031, 5) ACRS published data from its Phase 2 trial of A-101 topical solution (40% and 32.5%) for the treatment of SK in the journal Dermatologic Surgery, 6) As of 9/30/17, ACRS had $227.8MM of cash, enough to fund operations through 2H19, 7) PDUFA for A-101 to treat SK is 12/24/17, 8) Enrollment of two Phase 2 trials of A-101 45% Topical Solution for the treatment of common warts is complete, ACRS expects data 1H18, 9) In October ACRS initiated a Phase 2 clinical trial of ATI-50002 topical for AA. This trial will evaluate PK, PD and safety and data is expected 1Q18. 10) ACRS initiated a Phase 2 open-label clinical trial of ATI-50002 Topical for the treatment of AA. This trial will evaluate the regrowth of eyebrows, and data is also expected to be available in 1H18. And 11) ACRS plans to initiate a Phase 2 dose-ranging trial of ATI-50002 Topical for the treatment of AA next week. Data is expected by year end 2018.”,” the firm’s analyst commented.
Several other brokerages also recently weighed in on ACRS. BidaskClub upgraded Aclaris Therapeutics from a hold rating to a buy rating in a research note on Monday, July 24th. Zacks Investment Research cut Aclaris Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 11th. Jefferies Group LLC reaffirmed a buy rating and issued a $36.00 price target on shares of Aclaris Therapeutics in a report on Monday, July 31st. JMP Securities reaffirmed an outperform rating and issued a $39.00 price target on shares of Aclaris Therapeutics in a report on Friday, September 8th. Finally, ValuEngine cut Aclaris Therapeutics from a hold rating to a sell rating in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $39.20.
Shares of Aclaris Therapeutics (NASDAQ ACRS) traded up $1.19 during trading hours on Tuesday, reaching $23.23. The company had a trading volume of 133,800 shares, compared to its average volume of 272,019. Aclaris Therapeutics has a 1 year low of $20.20 and a 1 year high of $33.25.
Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.23. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $2.00 million. equities analysts forecast that Aclaris Therapeutics will post -2.73 earnings per share for the current year.
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In related news, Director Andrew N. Schiff bought 108,601 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $23.02 per share, with a total value of $2,499,995.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cadence Capital Management LLC acquired a new stake in Aclaris Therapeutics during the 3rd quarter valued at $689,000. Citadel Advisors LLC increased its holdings in Aclaris Therapeutics by 620.6% during the 3rd quarter. Citadel Advisors LLC now owns 242,016 shares of the biotechnology company’s stock valued at $6,247,000 after purchasing an additional 208,429 shares in the last quarter. Trexquant Investment LP acquired a new stake in Aclaris Therapeutics during the 3rd quarter valued at $247,000. Eagle Asset Management Inc. increased its holdings in Aclaris Therapeutics by 1.7% during 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 purchasing an additional 22,576 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Aclaris Therapeutics during the 3rd quarter valued at $328,000. 95.85% of the stock is owned by hedge funds and other 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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