Aclaris Therapeutics (NASDAQ:ACRS) Rating Lowered to “Sell” at Wall Street Zen

Aclaris Therapeutics (NASDAQ:ACRS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, September 21st. Canaccord Genuity Group began coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $11.33.

Aclaris Therapeutics Stock Performance

NASDAQ:ACRS opened at $4.39 on Friday. The company’s 50-day moving average price is $5.73 and its 200-day moving average price is $4.97. The company has a market cap of $613.81 million, a P/E ratio of -7.57 and a beta of 0.87. Aclaris Therapeutics has a twelve month low of $1.74 and a twelve month high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. On average, analysts expect that Aclaris Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Aclaris Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Aclaris Therapeutics during the second quarter worth about $53,096,000. Rock Springs Capital Management LP raised its stake in shares of Aclaris Therapeutics by 0.4% in the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock valued at $16,772,000 after acquiring an additional 18,909 shares during the period. Braidwell LP raised its stake in shares of Aclaris Therapeutics by 26.1% in the 2nd quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock valued at $11,333,000 after acquiring an additional 443,232 shares during the period. Kalehua Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at approximately $6,871,000. Finally, Palo Alto Investors LP acquired a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $8,535,045. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company’s research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris’ lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.