Aclaris Therapeutics (ACRS) Reaches New 12-Month Low on Analyst Downgrade

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Aclaris Therapeutics Inc (NASDAQ:ACRS) reached a new 52-week low during trading on Tuesday after JMP Securities lowered their price target on the stock from $47.00 to $34.00. JMP Securities currently has a buy rating on the stock. Aclaris Therapeutics traded as low as $12.63 and last traded at $13.04, with a volume of 72541 shares trading hands. The stock had previously closed at $13.41.

ACRS has been the subject of several other research reports. BidaskClub upgraded shares of Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th. Zacks Investment Research upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, August 8th. Finally, Cantor Fitzgerald set a $50.00 price objective on shares of Aclaris Therapeutics and gave the company a “buy” rating in a research note on Monday, July 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.60.

In other news, Director Stephen A. Tullman acquired 7,100 shares of the firm’s stock in a transaction on Thursday, October 4th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $99,400.00. Following the purchase, the director now owns 177,457 shares in the company, valued at approximately $2,484,398. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen A. Tullman acquired 6,600 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $15.00 per share, with a total value of $99,000.00. Following the purchase, the director now owns 170,357 shares in the company, valued at approximately $2,555,355. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 19,950 shares of company stock valued at $298,213. Company insiders own 17.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of Aclaris Therapeutics by 31.1% during the 2nd quarter. FMR LLC now owns 3,355,785 shares of the biotechnology company’s stock worth $67,015,000 after purchasing an additional 796,805 shares during the last quarter. BlackRock Inc. increased its stake in shares of Aclaris Therapeutics by 9.7% during the 2nd quarter. BlackRock Inc. now owns 2,311,641 shares of the biotechnology company’s stock worth $46,163,000 after purchasing an additional 204,215 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Aclaris Therapeutics by 88.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 399,342 shares of the biotechnology company’s stock worth $7,975,000 after purchasing an additional 187,545 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Aclaris Therapeutics by 3,694.2% during the 1st quarter. JPMorgan Chase & Co. now owns 190,281 shares of the biotechnology company’s stock worth $3,333,000 after purchasing an additional 185,266 shares during the last quarter. Finally, C WorldWide Group Holding A S increased its stake in shares of Aclaris Therapeutics by 221.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 242,251 shares of the biotechnology company’s stock worth $4,838,000 after purchasing an additional 166,986 shares during the last quarter. Hedge funds and other institutional investors own 99.75% of the company’s stock.

The company has a market capitalization of $449.84 million, a PE ratio of -4.74 and a beta of 1.22.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Friday, August 3rd. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.04. Aclaris Therapeutics had a negative net margin of 1,584.99% and a negative return on equity of 49.45%. The company had revenue of $3.68 million during the quarter, compared to analyst estimates of $2.76 million. On average, research analysts predict that Aclaris Therapeutics Inc will post -4.6 earnings per share for the current year.

About Aclaris Therapeutics (NASDAQ:ACRS)

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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