Todays Report: Today, Aclaris Therapeutics Inc. (ACRS) Coverage Initiated at Leerink Swann

Today, Aclaris Therapeutics Inc. (ACRS) Coverage Initiated at Leerink Swann

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.

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