Aclaris Therapeutics (ACRS) Downgraded by Zacks Investment Research
Aclaris Therapeutics (NASDAQ:ACRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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 topic of several other research reports. BidaskClub raised shares of Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 1st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Aclaris Therapeutics in a research report on Tuesday, November 6th. Finally, JMP Securities lowered their price objective on shares of Aclaris Therapeutics from $47.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $40.00.
Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.19. Aclaris Therapeutics had a negative net margin of 1,578.24% and a negative return on equity of 63.74%. The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.58 million. As a group, research analysts expect that Aclaris Therapeutics will post -4 earnings per share for the current year.
In related news, Director Anand Mehra acquired 372,093 shares of the stock in a transaction on Monday, October 22nd. The shares were acquired at an average price of $10.75 per share, with a total value of $3,999,999.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen A. Tullman acquired 7,100 shares of the stock in a transaction on Thursday, October 4th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $99,400.00. Following the transaction, the director now owns 177,457 shares of the company’s stock, valued at approximately $2,484,398. The disclosure for this purchase can be found here. Insiders own 17.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ACRS. Royal Bank of Canada raised its position 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 worth $114,000 after acquiring an additional 5,531 shares during the period. Bank of Montreal Can bought a new stake in Aclaris Therapeutics in the second quarter worth about $159,000. Granite Investment Partners LLC purchased a new position in shares of Aclaris Therapeutics in the second quarter worth about $164,000. CIBC Private Wealth Group LLC purchased a new position in shares of Aclaris Therapeutics in the second quarter worth about $200,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Aclaris Therapeutics in the second quarter worth about $215,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.
Aclaris Therapeutics Company Profile
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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