Aclaris Therapeutics (NASDAQ:ACRS) Rating Increased to Hold at Zacks Investment Research


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Aclaris Therapeutics (NASDAQ:ACRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Aclaris Therapeutics, Inc. is a specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing drugs to met needs in dermatology. Its drug candidate consists of A-101, a high-concentration hydrogen peroxide topical solution which is being developed as a prescription treatment for seborrheic keratosis a common non-malignant skin tumor and A-102, a proprietary topical gel dosage form of hydrogen peroxide for the treatment of SK and common warts which are in different clinical trial. Aclaris Therapeutics, Inc. is headquartered in Malvern, Pennsylvania. “

Separately, HC Wainwright started coverage on shares of Aclaris Therapeutics in a research note on Tuesday, April 27th. They set a “buy” rating on the stock.

Shares of ACRS stock traded down $1.37 during mid-day trading on Tuesday, reaching $23.55. 28,089 shares of the company’s stock traded hands, compared to its average volume of 2,373,070. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.54 and a current ratio of 4.54. The firm has a market capitalization of $1.23 billion, a PE ratio of -17.66 and a beta of 1.20. Aclaris Therapeutics has a 12 month low of $1.10 and a 12 month high of $30.38. The firm has a 50 day moving average price of $25.97 and a two-hundred day moving average price of $14.56.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, February 24th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.01. Aclaris Therapeutics had a negative return on equity of 104.00% and a negative net margin of 941.07%. The business had revenue of $1.58 million during the quarter, compared to analyst estimates of $1.32 million. As a group, equities analysts expect that Aclaris Therapeutics will post -1.17 earnings per share for the current fiscal year.

In other news, CFO Frank Ruffo sold 27,339 shares of the company’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $25.80, for a total value of $705,346.20. Following the completion of the transaction, the chief financial officer now owns 209,059 shares of the company’s stock, valued at $5,393,722.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.20% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ACRS. Marshall Wace LLP purchased a new position in Aclaris Therapeutics during the first quarter valued at $103,000. Morgan Stanley grew its position in shares of Aclaris Therapeutics by 49.6% during the third quarter. Morgan Stanley now owns 20,259 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 6,713 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Aclaris Therapeutics by 27.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 249,200 shares of the biotechnology company’s stock worth $641,000 after purchasing an additional 53,100 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $193,000. Finally, Wells Fargo & Company MN boosted its stake in Aclaris Therapeutics by 2,606.3% during the fourth quarter. Wells Fargo & Company MN now owns 32,936 shares of the biotechnology company’s stock valued at $213,000 after buying an additional 31,719 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on developing drug candidates for immuno-inflammatory diseases in the United States. The Company operates in two segments, Therapeutics and Contract Research. Its products pipeline includes ATI-450, an investigational oral, novel, small molecule selective MK2 inhibitor compound that is in phase 2 clinical trial for the treatment of moderate to severe rheumatoid arthritis, COVID-19, and additional immuno-inflammatory diseases; ATI-1777, an investigational topical soft JAK 1/3 inhibitor compound, which is in phase 2a clinical trial to treat moderate to severe atopic dermatitis; and ATI-2138, an investigational oral ITK/TXK/JAK3 inhibitor compound for the treatment for psoriasis and/or inflammatory bowel disease, as well as A-101 45% topical solution to treat common warts.

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