Zacks Investment Research Lowers Aclaris Therapeutics (ACRS) to Sell
Zacks Investment Research cut shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a sell rating in a report issued on Tuesday morning.
According to Zacks, “Aclaris Therapeutics, Inc. is a specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing drugs to met needs in dermatology. Its drug candidate consists of A-101, a high-concentration hydrogen peroxide topical solution which is being developed as a prescription treatment for seborrheic keratosis a common non-malignant skin tumor and A-102, a proprietary topical gel dosage form of hydrogen peroxide for the treatment of SK and common warts which are in different clinical trial. Aclaris Therapeutics, Inc. is headquartered in Malvern, Pennsylvania. “
ACRS has been the subject of several other reports. Cantor Fitzgerald set a $50.00 price target on Aclaris Therapeutics and gave the stock a buy rating in a research report on Monday, July 9th. BidaskClub lowered Aclaris Therapeutics from a sell rating to a strong sell rating in a research report on Saturday, August 25th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $43.50.
Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Friday, August 3rd. The biotechnology company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.04. Aclaris Therapeutics had a negative return on equity of 49.45% and a negative net margin of 1,584.99%. The business had revenue of $3.68 million during the quarter, compared to analyst estimates of $2.76 million. research analysts anticipate that Aclaris Therapeutics will post -4.6 earnings per share for the current fiscal year.
In related news, Director Stephen A. Tullman bought 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $99,000.00. Following the completion of the acquisition, the director now owns 170,357 shares in the company, valued at approximately $2,555,355. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen A. Tullman bought 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average price of $15.97 per share, with a total value of $99,812.50. Following the completion of the acquisition, the director now owns 163,757 shares of the company’s stock, valued at approximately $2,615,199.29. The disclosure for this purchase can be found here. Company insiders own 17.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its holdings in Aclaris Therapeutics by 518.4% in the first 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 during the period. Millennium Management LLC purchased a new position in Aclaris Therapeutics in the fourth quarter valued at $291,000. Rothschild Asset Management Inc. boosted its holdings in Aclaris Therapeutics by 17.8% in the second quarter. Rothschild Asset Management Inc. now owns 49,392 shares of the biotechnology company’s stock valued at $986,000 after purchasing an additional 7,446 shares during the period. Royal Bank of Canada boosted its holdings in Aclaris Therapeutics by 561.0% in the first quarter. Royal Bank of Canada now owns 6,517 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 5,531 shares during the period. Finally, Trexquant Investment LP purchased a new position in Aclaris Therapeutics in the first quarter valued at $354,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.
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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