Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. The firm currently has $14.00 price target on the biotechnology company’s stock.

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 also recently issued reports on ACRS. SVB Leerink reissued a buy rating and issued a $26.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, December 9th. HC Wainwright reissued a buy rating and issued a $50.00 price target on shares of Aclaris Therapeutics in a research note on Monday, December 20th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Aclaris Therapeutics presently has a consensus rating of Buy and a consensus price target of $30.50.

Aclaris Therapeutics stock opened at $10.81 on Tuesday. The firm has a 50-day moving average of $13.81 and a 200-day moving average of $15.46. The firm has a market cap of $661.86 million, a P/E ratio of -6.93 and a beta of 0.47. Aclaris Therapeutics has a 1-year low of $5.82 and a 1-year high of $30.38.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Tuesday, November 2nd. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.07). Aclaris Therapeutics had a negative return on equity of 54.41% and a negative net margin of 1,187.63%. The firm had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $1.82 million. Sell-side analysts anticipate that Aclaris Therapeutics will post -1.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in shares of Aclaris Therapeutics by 15.4% during the third quarter. Wellington Management Group LLP now owns 5,420,453 shares of the biotechnology company’s stock valued at $97,568,000 after purchasing an additional 722,704 shares in the last quarter. VR Adviser LLC increased its stake in shares of Aclaris Therapeutics by 22.7% during the second quarter. VR Adviser LLC now owns 4,563,962 shares of the biotechnology company’s stock valued at $80,143,000 after purchasing an additional 843,380 shares in the last quarter. Rock Springs Capital Management LP increased its stake in shares of Aclaris Therapeutics by 1.1% during the third quarter. Rock Springs Capital Management LP now owns 3,803,232 shares of the biotechnology company’s stock valued at $68,458,000 after purchasing an additional 40,920 shares in the last quarter. BlackRock Inc. increased its stake in shares of Aclaris Therapeutics by 17.0% during the third quarter. BlackRock Inc. now owns 3,788,417 shares of the biotechnology company’s stock valued at $68,192,000 after purchasing an additional 549,368 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Aclaris Therapeutics by 21.2% during the second quarter. Vanguard Group Inc. now owns 2,566,771 shares of the biotechnology company’s stock valued at $45,073,000 after purchasing an additional 448,919 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc operates as a dermatologist-led biopharmaceutical company, which engages in identifying, developing, and commercializing novel drugs to address the needs in medical and aesthetic dermatology and immunology. It operates through Therapeutics and Contract Research segments. The Therapeutics segment focuses in identifying, developing, and commercializing different therapies to address significant unmet needs in medical and aesthetic dermatology.

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