Aclaris Therapeutics (NASDAQ:ACRS) Downgraded by Wall Street Zen to “Sell”

Aclaris Therapeutics (NASDAQ:ACRS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

ACRS has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Monday, December 29th. Craig Hallum began coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.80.

Aclaris Therapeutics Trading Down 1.9%

ACRS opened at $3.06 on Friday. The stock has a fifty day simple moving average of $3.25 and a two-hundred day simple moving average of $2.64. Aclaris Therapeutics has a 12-month low of $1.05 and a 12-month high of $4.89. The company has a market cap of $369.04 million, a price-to-earnings ratio of -5.77 and a beta of 0.88.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%.The company had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.07 million. On average, analysts predict that Aclaris Therapeutics will post -0.82 EPS for the current year.

Institutional Trading of Aclaris Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ACRS. Millennium Management LLC boosted its stake in shares of Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares in the last quarter. Geode Capital Management LLC grew its stake in Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after purchasing an additional 1,282,042 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Aclaris Therapeutics by 10.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,433,850 shares of the biotechnology company’s stock worth $3,453,000 after acquiring an additional 238,659 shares in the last quarter. Kotler Kevin acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $5,135,000. Finally, Palo Alto Investors LP boosted its stake in Aclaris Therapeutics by 12.7% in the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock worth $2,977,000 after purchasing an additional 176,812 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.