Aclaris Therapeutics (ACRS) Sets New 52-Week Low at $21.43

Aclaris Therapeutics Inc (NASDAQ:ACRS) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.43 and last traded at $22.27, with a volume of 631400 shares. The stock had previously closed at $23.71.

Several equities research analysts recently issued reports on ACRS shares. Cantor Fitzgerald reissued a “buy” rating and issued a $50.00 price objective on shares of Aclaris Therapeutics in a research note on Tuesday, November 7th. Zacks Investment Research raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, October 10th. ValuEngine downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. JMP Securities reissued an “outperform” rating and issued a $39.00 price objective on shares of Aclaris Therapeutics in a research note on Friday, September 8th. Finally, BidaskClub downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.20.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.23. The business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $2.00 million. analysts predict that Aclaris Therapeutics Inc will post -2.59 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ACRS. Eagle Asset Management Inc. increased its position in Aclaris Therapeutics by 287.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,357,973 shares of the biotechnology company’s stock worth $36,828,000 after purchasing an additional 1,007,343 shares during the last quarter. Franklin Resources Inc. increased its position in Aclaris Therapeutics by 55.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,955,381 shares of the biotechnology company’s stock worth $53,030,000 after purchasing an additional 697,104 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Aclaris Therapeutics by 79.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,249,254 shares of the biotechnology company’s stock worth $33,880,000 after purchasing an additional 553,752 shares during the last quarter. FMR LLC increased its position in Aclaris Therapeutics by 14.6% in the 2nd quarter. FMR LLC now owns 1,896,206 shares of the biotechnology company’s stock worth $51,425,000 after purchasing an additional 242,269 shares during the last quarter. Finally, Nexthera Capital LP increased its position in Aclaris Therapeutics by 204.9% in the 2nd quarter. Nexthera Capital LP now owns 340,000 shares of the biotechnology company’s stock worth $9,221,000 after purchasing an additional 228,500 shares during the last quarter. 92.10% of the stock is currently owned by institutional investors.

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Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc is a dermatologist-led, biopharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated drugs for the treatment of dermatological indications. The Company is also focused on the discovery and development of kinase inhibitors to treat inflammatory and immunological disorders and cancer.

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