Cantor Fitzgerald reiterated their buy rating on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note released on Tuesday morning. Cantor Fitzgerald currently has a $50.00 target price on the biotechnology company’s stock.
“: Post a solid quarter of execution, and ahead of what we expect to be important positive catalysts for the company, we are reiterating our OW rating and 12-month PT of $50 for ACRS shares. We expect upward earnings revisions to levels not yet reflected in sell-side consensus expectations to drive the stock higher. This could come from the commercialization and/or advancement of each of ACRS’s key assets. These are: 1) An acceleration in the uptake of Eskata for SK and Rhofade for rosacea, 2) A-101 Phase 3 data for warts, 3) ATI-501 and ATI-502 data releases throughout 2018 and 2019, and, 4) The advancement of ATI-450.”,” Cantor Fitzgerald’s analyst wrote.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Aclaris Therapeutics from a sell rating to a hold rating in a research note on Monday, September 17th. BidaskClub downgraded Aclaris Therapeutics from a sell rating to a strong sell rating in a research note on Saturday, August 25th. Finally, JMP Securities decreased their price target on Aclaris Therapeutics from $47.00 to $34.00 and set a buy rating for the company in a research note on Tuesday, October 16th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $40.40.
ACRS stock traded down $1.01 during mid-day trading on Tuesday, reaching $10.62. The company had a trading volume of 291,773 shares, compared to its average volume of 612,393. The company has a market cap of $372.39 million, a price-to-earnings ratio of -4.25 and a beta of 1.50. Aclaris Therapeutics has a 52 week low of $10.52 and a 52 week high of $26.25.
Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.25) by $0.19. The firm had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.58 million. Aclaris Therapeutics had a negative return on equity of 63.74% and a negative net margin of 1,578.24%. On average, equities analysts forecast that Aclaris Therapeutics will post -4.27 EPS for the current fiscal year.
In other Aclaris Therapeutics news, Director Anand Mehra acquired 372,093 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was bought at an average cost of $10.75 per share, with a total value of $3,999,999.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen A. Tullman acquired 6,600 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average cost of $15.00 per share, with a total value of $99,000.00. Following the completion of the transaction, the director now owns 170,357 shares of the company’s stock, valued at $2,555,355. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 392,043 shares of company stock valued at $4,298,212. Insiders own 17.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACRS. Royal Bank of Canada lifted its position in shares of Aclaris Therapeutics by 561.0% in the first quarter. Royal Bank of Canada now owns 6,517 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 5,531 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Aclaris Therapeutics by 518.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 8,361 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 7,009 shares during the last quarter. Bank of Montreal Can acquired a new stake in Aclaris Therapeutics during the 2nd quarter worth approximately $159,000. Granite Investment Partners LLC acquired a new stake in Aclaris Therapeutics during the 2nd quarter worth approximately $164,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Aclaris Therapeutics during the 1st quarter worth approximately $198,000. 99.83% of the stock is owned by institutional investors.
About Aclaris Therapeutics
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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