Aclaris Therapeutics Inc (NASDAQ:ACRS) had its target price hoisted by Guggenheim from $35.00 to $40.00 in a research report report published on Wednesday. Guggenheim currently has a buy rating on the stock.
ACRS has been the topic of several other research reports. Zacks Investment Research downgraded shares of Aclaris Therapeutics from a buy rating to a hold rating in a report on Thursday, March 2nd. Leerink Swann started coverage on shares of Aclaris Therapeutics in a report on Tuesday, November 29th. They issued an outperform rating on the stock. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $32.00 price target (up previously from $29.00) on shares of Aclaris Therapeutics in a report on Friday, November 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $36.25.
Shares of Aclaris Therapeutics (NASDAQ:ACRS) opened at 28.88 on Wednesday. The company has a 50-day moving average of $28.79 and a 200 day moving average of $26.33. Aclaris Therapeutics has a 12-month low of $14.12 and a 12-month high of $33.25. The firm’s market cap is $618.96 million.
Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Wednesday, March 15th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.10. Equities research analysts anticipate that Aclaris Therapeutics will post ($3.11) earnings per share for the current fiscal year.
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In related news, major shareholder Ventures Fund Vii L.P. Vivo sold 425,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $30.82, for a total transaction of $13,098,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anand Mehra sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $28.25, for a total transaction of $21,187,500.00. The disclosure for this sale can be found here. Corporate insiders own 46.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in ACRS. Norges Bank purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at about $900,000. EcoR1 Capital LLC purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at about $11,236,000. Boothbay Fund Management LLC purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at about $264,000. Perceptive Advisors LLC purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at about $34,219,000. Finally, Deerfield Management Co. increased its position in shares of Aclaris Therapeutics by 223.3% in the fourth quarter. Deerfield Management Co. now owns 375,000 shares of the company’s stock valued at $10,178,000 after buying an additional 259,000 shares during the last quarter. 61.94% of the stock is currently owned by institutional investors and hedge funds.
Aclaris Therapeutics Company Profile
Aclaris Therapeutics, Inc is a United States-based clinical-stage specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing drugs to address the needs in dermatology. Its lead drug candidate, A-101 Topical Solution, is a hydrogen peroxide topical solution that the Company is developing as a prescription treatment for seborrheic keratosis (SK).
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