Aclaris Therapeutics Inc (NASDAQ:ACRS) – Equities research analysts at Cantor Fitzgerald increased their FY2018 earnings estimates for Aclaris Therapeutics in a report released on Wednesday, October 24th, according to Zacks Investment Research. Cantor Fitzgerald analyst L. Chen now expects that the biotechnology company will post earnings per share of ($4.55) for the year, up from their previous forecast of ($4.91). Cantor Fitzgerald has a “Buy” rating and a $50.00 price target on the stock. Cantor Fitzgerald also issued estimates for Aclaris Therapeutics’ FY2019 earnings at ($3.87) EPS.
Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($1.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.25) by $0.19. The company had revenue of $1.63 million during the quarter, compared to analysts’ expectations of $1.58 million. Aclaris Therapeutics had a negative return on equity of 63.74% and a negative net margin of 1,578.24%.
A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. JMP Securities lowered their target price 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. Finally, BidaskClub upgraded Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.70.
Shares of NASDAQ:ACRS traded down $0.01 during midday trading on Monday, reaching $8.56. The company’s stock had a trading volume of 372,463 shares, compared to its average volume of 507,959. Aclaris Therapeutics has a fifty-two week low of $8.39 and a fifty-two week high of $26.25. The firm has a market cap of $350.82 million, a PE ratio of -3.42 and a beta of 1.50.
In other news, Director Stephen A. Tullman acquired 7,100 shares of the stock in a transaction that occurred on Thursday, October 4th. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $99,400.00. Following the completion of the transaction, the director now directly owns 177,457 shares in the company, valued at $2,484,398. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anand Mehra acquired 372,093 shares of the stock in a transaction that occurred on Monday, October 22nd. The stock was purchased at an average price of $10.75 per share, with a total value of $3,999,999.75. The disclosure for this purchase can be found here. Company insiders own 17.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ACRS. Royal Bank of Canada increased its position in Aclaris Therapeutics by 561.0% in the first quarter. Royal Bank of Canada now owns 6,517 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 5,531 shares during the period. Cubist Systematic Strategies LLC increased its position in Aclaris Therapeutics by 518.4% in 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 during the period. Bank of Montreal Can acquired a new stake in Aclaris Therapeutics in the second quarter worth about $159,000. Granite Investment Partners LLC acquired a new stake in Aclaris Therapeutics in the second quarter worth about $164,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Aclaris Therapeutics in the first quarter worth about $198,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.
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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