JMP Securities Lowers Aclaris Therapeutics (NASDAQ:ACRS) Price Target to $34.00

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Aclaris Therapeutics (NASDAQ:ACRS) had its price target reduced by JMP Securities from $47.00 to $34.00 in a research report report published on Tuesday, October 16th, MarketBeat.com reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other brokerages have also weighed in on ACRS. Cantor Fitzgerald restated a buy rating on shares of Aclaris Therapeutics in a research note on Tuesday, July 17th. Zacks Investment Research raised Aclaris Therapeutics from a sell rating to a hold rating in a report on Tuesday, July 24th. Finally, BidaskClub raised Aclaris Therapeutics from a hold rating to a buy rating in a report on Monday, June 18th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $40.40.

ACRS traded down $1.01 on Tuesday, hitting $10.62. The company had a trading volume of 291,773 shares, compared to its average volume of 612,393. Aclaris Therapeutics has a 12-month low of $10.52 and a 12-month high of $26.25. The firm has a market capitalization of $372.39 million, a PE ratio of -4.25 and a beta of 1.50.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.25) by $0.19. Aclaris Therapeutics had a negative return on equity of 63.74% and a negative net margin of 1,578.24%. The business had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.58 million. As a group, research analysts predict that Aclaris Therapeutics will post -4.27 earnings per share for the current fiscal year.

In other Aclaris Therapeutics news, Director Stephen A. Tullman bought 6,250 shares of Aclaris Therapeutics stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of $15.97 per share, with a total value of $99,812.50. Following the purchase, the director now directly owns 163,757 shares in the company, valued at approximately $2,615,199.29. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Anand Mehra bought 372,093 shares of Aclaris Therapeutics stock in a transaction dated Monday, October 22nd. The shares were acquired at an average cost of $10.75 per share, with a total value of $3,999,999.75. The disclosure for this purchase can be found here. Insiders acquired 392,043 shares of company stock valued at $4,298,212 over the last three months. 17.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Aclaris Therapeutics by 9.7% during the second 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 in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Aclaris Therapeutics by 518.4% during the first 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 in the last quarter. FMR LLC increased its position in shares of Aclaris Therapeutics by 31.1% during the second 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 in the last quarter. MetLife Investment Advisors LLC increased its position in shares of Aclaris Therapeutics by 32.7% during the second quarter. MetLife Investment Advisors LLC now owns 13,157 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 3,244 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Aclaris Therapeutics by 839.4% during the first quarter. Millennium Management LLC now owns 110,827 shares of the biotechnology company’s stock worth $1,942,000 after purchasing an additional 99,029 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

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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