Aclaris Therapeutics (NASDAQ:ACRS) Trading 13.5% Higher

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Aclaris Therapeutics Inc (NASDAQ:ACRS) traded up 13.5% on Thursday . The company traded as high as $1.12 and last traded at $1.09, 1,446,702 shares traded hands during trading. An increase of 95% from the average session volume of 741,527 shares. The stock had previously closed at $0.96.

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price objective (down previously from $24.00) on shares of Aclaris Therapeutics in a research note on Friday, August 9th. Svb Leerink lowered Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 27th. Leerink Swann lowered Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 27th. Zacks Investment Research upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a research note on Wednesday. Finally, ValuEngine upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.25.

The firm has a 50-day moving average price of $1.54 and a 200 day moving average price of $4.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.23 and a quick ratio of 3.22.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.05. The company had revenue of $5.87 million during the quarter, compared to analyst estimates of $5.77 million. Aclaris Therapeutics had a negative return on equity of 81.40% and a negative net margin of 979.65%. Research analysts expect that Aclaris Therapeutics Inc will post -2.71 earnings per share for the current year.

In other news, major shareholder James E. Flynn sold 454,261 shares of Aclaris Therapeutics stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $4.59, for a total value of $2,085,057.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James E. Flynn sold 699,475 shares of Aclaris Therapeutics stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $2.69, for a total value of $1,881,587.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,493,273 shares of company stock valued at $5,535,307. Insiders own 14.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ACRS. Man Group plc grew its position in shares of Aclaris Therapeutics by 73.6% in the 2nd quarter. Man Group plc now owns 2,057,936 shares of the biotechnology company’s stock worth $4,507,000 after acquiring an additional 872,408 shares in the last quarter. Rock Springs Capital Management LP grew its position in shares of Aclaris Therapeutics by 19.3% in the 2nd quarter. Rock Springs Capital Management LP now owns 2,028,000 shares of the biotechnology company’s stock worth $4,441,000 after acquiring an additional 328,000 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Aclaris Therapeutics by 63.7% in the 2nd quarter. Renaissance Technologies LLC now owns 699,580 shares of the biotechnology company’s stock worth $1,532,000 after acquiring an additional 272,200 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Aclaris Therapeutics by 105.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 489,516 shares of the biotechnology company’s stock worth $3,618,000 after acquiring an additional 250,963 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Aclaris Therapeutics by 66.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 408,262 shares of the biotechnology company’s stock worth $870,000 after acquiring an additional 162,458 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

About Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.

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