Jefferies Group Reiterates Buy Rating for Aclaris Therapeutics Inc. (ACRS)
Aclaris Therapeutics Inc. (NASDAQ:ACRS)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a research note issued on Friday. They presently have a $32.00 price target on the stock, up from their prior price target of $29.00. Jefferies Group’s price target indicates a potential upside of 18.43% from the stock’s current price.
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. JMP Securities started coverage on shares of Aclaris Therapeutics in a research report on Friday, September 30th. They set an “outperform” rating and a $34.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.50.
Shares of Aclaris Therapeutics (NASDAQ:ACRS) opened at 27.02 on Friday. The stock’s market capitalization is $579.09 million. Aclaris Therapeutics has a 1-year low of $14.12 and a 1-year high of $33.88. The stock’s 50 day moving average price is $22.93 and its 200-day moving average price is $21.21.
Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.16. Equities research analysts anticipate that Aclaris Therapeutics will post ($2.39) EPS for the current fiscal year.
In other news, major shareholder Ra Capital Management, Llc sold 525,550 shares of the company’s stock in a transaction dated 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 can be accessed through the SEC website. Also, insider Kamil Ali-Jackson sold 3,738 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $20.35, for a total transaction of $76,068.30. Following the transaction, the insider now directly owns 20,289 shares of the company’s stock, valued at $412,881.15. The disclosure for this sale can be found here. Insiders own 46.40% of the company’s stock.
Several institutional investors have recently modified their holdings of ACRS. BlackRock Advisors LLC increased its position in Aclaris Therapeutics by 58.9% in the third quarter. BlackRock Advisors LLC now owns 4,550 shares of the company’s stock worth $117,000 after buying an additional 1,686 shares during the last quarter. Nationwide Fund Advisors increased its position in Aclaris Therapeutics by 47.0% in the second quarter. Nationwide Fund Advisors now owns 5,747 shares of the company’s stock worth $106,000 after buying an additional 1,838 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Aclaris Therapeutics during the third quarter worth about $192,000. Strs Ohio increased its position in Aclaris Therapeutics by 170.0% in the third quarter. Strs Ohio now owns 8,100 shares of the company’s stock worth $207,000 after buying an additional 5,100 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Aclaris Therapeutics during the third quarter worth about $210,000. 72.72% of the stock is owned by hedge funds and other institutional investors.
About Aclaris Therapeutics
Aclaris Therapeutics, Inc is a clinical-stage specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated drugs for the treatment of dermatological indications. The Company’s lead drug candidate, A-101 Topical Solution, is a high-concentration hydrogen peroxide topical solution that the Company is developing as a prescription treatment for seborrheic keratosis (SK), a non-malignant skin tumor.
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