Zacks Investment Research Downgrades Aclaris Therapeutics Inc. (ACRS) to Sell
Aclaris Therapeutics Inc. (NASDAQ:ACRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
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. “
A number of other research firms have also weighed in on ACRS. JMP Securities assumed coverage on Aclaris Therapeutics in a research report on Friday. They issued an “outperform” rating and a $34.00 price target for the company. Jefferies Group increased their price target on Aclaris Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, September 19th. Finally, Guggenheim assumed coverage on Aclaris Therapeutics in a research report on Friday, June 10th. They issued a “buy” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $31.80.
Shares of Aclaris Therapeutics (NASDAQ:ACRS) opened at 25.49 on Friday. The stock’s market cap is $545.87 million. Aclaris Therapeutics has a one year low of $10.99 and a one year high of $33.88. The stock’s 50 day moving average price is $22.64 and its 200-day moving average price is $20.24.
Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.01. On average, equities analysts predict that Aclaris Therapeutics will post ($2.60) earnings per share for the current fiscal year.
In related news, insider Kamil Ali-Jackson sold 1,841 shares of the stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $24.66, for a total value of $45,399.06. Following the completion of the sale, the insider now directly owns 77,798 shares of the company’s stock, valued at approximately $1,918,498.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ra Capital Management, Llc sold 525,550 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $24.19, for a total value of $12,713,054.50. The disclosure for this sale can be found here. 46.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in ACRS. Vivo Capital LLC acquired a new stake in shares of Aclaris Therapeutics during the first quarter valued at about $79,427,000. Opaleye Management Inc. acquired a new stake in shares of Aclaris Therapeutics during the first quarter valued at about $341,000. EAM Investors LLC acquired a new stake in shares of Aclaris Therapeutics during the second quarter valued at about $668,000. State Street Corp increased its stake in shares of Aclaris Therapeutics by 63.1% in the first quarter. State Street Corp now owns 72,831 shares of the company’s stock valued at $1,379,000 after buying an additional 28,178 shares in the last quarter. Finally, Geduld E E increased its stake in shares of Aclaris Therapeutics by 62.5% in the second quarter. Geduld E E now owns 17,500 shares of the company’s stock valued at $323,000 after buying an additional 6,729 shares in the last quarter. 71.39% of the stock is owned by hedge funds and other institutional investors.
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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