Guggenheim Initiates Coverage on Aclaris Therapeutics (ACRS)

Stock analysts at Guggenheim assumed coverage on shares of Aclaris Therapeutics (NASDAQ:ACRS) in a research note issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the biotechnology company’s stock.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Aclaris Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Cantor Fitzgerald set a $50.00 target price on Aclaris Therapeutics and gave the stock a “buy” rating in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.20.

Shares of Aclaris Therapeutics (ACRS) traded down $0.33 during mid-day trading on Thursday, reaching $19.57. The company’s stock had a trading volume of 466,281 shares, compared to its average volume of 379,381. Aclaris Therapeutics has a 12 month low of $18.52 and a 12 month high of $33.25. The firm has a market cap of $598.19, a price-to-earnings ratio of -9.06 and a beta of 1.26.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.23. The firm had revenue of $0.68 million during the quarter, compared to analyst estimates of $2.00 million. sell-side analysts forecast that Aclaris Therapeutics will post -2.59 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ACRS. Citigroup Inc. increased its holdings in shares of Aclaris Therapeutics by 171.8% during the 2nd quarter. Citigroup Inc. now owns 4,313 shares of the biotechnology company’s stock valued at $117,000 after acquiring an additional 2,726 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Aclaris Therapeutics by 98.3% during the 2nd quarter. Legal & General Group Plc now owns 5,254 shares of the biotechnology company’s stock valued at $142,000 after acquiring an additional 2,605 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Aclaris Therapeutics during the 3rd quarter valued at about $142,000. Teacher Retirement System of Texas acquired a new position in shares of Aclaris Therapeutics during the 4th quarter valued at about $200,000. Finally, Voya Investment Management LLC acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at about $247,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

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