Scotiabank Has Lowered Expectations for Aclaris Therapeutics (NASDAQ:ACRS) Stock Price

Aclaris Therapeutics (NASDAQ:ACRS) had its price objective dropped by equities researchers at Scotiabank from $15.00 to $9.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the biotechnology company’s stock.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Cantor Fitzgerald began coverage on Aclaris Therapeutics in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.67.

Aclaris Therapeutics Trading Down 3.8 %

Shares of NASDAQ:ACRS opened at $1.26 on Friday. The business’s 50 day moving average is $1.41 and its 200-day moving average is $2.24. The firm has a market capitalization of $136.43 million, a PE ratio of -2.42 and a beta of 0.42. Aclaris Therapeutics has a 1-year low of $0.95 and a 1-year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.07. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. On average, sell-side analysts predict that Aclaris Therapeutics will post -0.82 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ACRS. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at $23,876,000. Vivo Capital LLC acquired a new stake in Aclaris Therapeutics in the 4th quarter valued at about $22,044,000. Rock Springs Capital Management LP raised its stake in shares of Aclaris Therapeutics by 125.3% in the fourth quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company’s stock worth $15,387,000 after acquiring an additional 3,450,814 shares during the last quarter. RA Capital Management L.P. acquired a new position in shares of Aclaris Therapeutics during the fourth quarter worth approximately $11,573,000. Finally, Decheng Capital LLC increased its holdings in shares of Aclaris Therapeutics by 78.3% in the first quarter. Decheng Capital LLC now owns 4,041,736 shares of the biotechnology company’s stock valued at $6,184,000 after purchasing an additional 1,775,069 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.