Equities research analysts at Leerink Swann initiated coverage on shares of Aclaris Therapeutics Inc. (NASDAQ:ACRS) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
ACRS has been the subject of a number of other research reports. Zacks Investment Research raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 18th. Jefferies Group upped their price target on Aclaris Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, September 19th. Finally, JMP Securities started coverage on Aclaris Therapeutics in a research report on Friday, September 30th. They set an “outperform” rating and a $34.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $32.50.
Aclaris Therapeutics (NASDAQ:ACRS) opened at 28.04 on Tuesday. The stock’s market cap is $600.95 million. Aclaris Therapeutics has a 12 month low of $14.12 and a 12 month high of $33.88. The firm has a 50-day moving average of $23.20 and a 200 day moving average of $21.47.
Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.16. Analysts anticipate that Aclaris Therapeutics will post ($2.38) EPS for the current year.
In other Aclaris Therapeutics news, major shareholder Ventures Fund Vii L.P. Vivo sold 907,828 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $23.03, for a total transaction of $20,907,278.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ra Capital Management, Llc sold 525,550 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $24.19, for a total value of $12,713,054.50. The disclosure for this sale can be found here. Corporate insiders own 46.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. increased its position in Aclaris Therapeutics by 150.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 70,930 shares of the company’s stock worth $1,310,000 after buying an additional 42,644 shares during the period. BlackRock Fund Advisors increased its position in Aclaris Therapeutics by 59.7% in the second quarter. BlackRock Fund Advisors now owns 234,696 shares of the company’s stock worth $4,335,000 after buying an additional 87,739 shares during the period. BlackRock Investment Management LLC increased its position in Aclaris Therapeutics by 67.3% in the second quarter. BlackRock Investment Management LLC now owns 34,153 shares of the company’s stock worth $631,000 after buying an additional 13,734 shares during the period. Vanguard Group Inc. increased its position in Aclaris Therapeutics by 147.6% in the second quarter. Vanguard Group Inc. now owns 419,184 shares of the company’s stock worth $7,743,000 after buying an additional 249,888 shares during the period. Finally, Nationwide Fund Advisors increased its position in Aclaris Therapeutics by 47.0% in the second quarter. Nationwide Fund Advisors now owns 5,747 shares of the company’s stock worth $106,000 after buying an additional 1,838 shares during the period. Institutional investors and hedge funds own 72.10% of the company’s stock.
About Aclaris Therapeutics
Aclaris Therapeutics, Inc is a clinical-stage specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated drugs for the treatment of dermatological indications. The Company’s lead drug candidate, A-101 Topical Solution, is a high-concentration hydrogen peroxide topical solution that the Company is developing as a prescription treatment for seborrheic keratosis (SK), a non-malignant skin tumor.