Aclaris Therapeutics (NASDAQ:ACRS) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

ACRS has been the topic of several other reports. Canaccord Genuity Group began coverage on shares of Aclaris Therapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Stock Down 2.7%

ACRS opened at $4.27 on Friday. Aclaris Therapeutics has a 12-month low of $1.74 and a 12-month high of $6.60. The business has a 50 day moving average of $5.70 and a 200-day moving average of $4.98. The stock has a market cap of $597.05 million, a price-to-earnings ratio of -7.36 and a beta of 0.87.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%.The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $1.38 million. As a group, analysts expect that Aclaris Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Aclaris Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Braidwell LP lifted its holdings in shares of Aclaris Therapeutics by 26.1% during the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after buying an additional 443,232 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Aclaris Therapeutics by 4.0% in the second quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock valued at $1,415,000 after acquiring an additional 10,342 shares in the last quarter. Palo Alto Investors LP acquired a new position in shares of Aclaris Therapeutics in the second quarter valued at about $8,535,045. Jefferies Financial Group Inc. bought a new position in Aclaris Therapeutics during the second quarter worth about $58,000. Finally, Bank of America Corp DE bought a new position in Aclaris Therapeutics during the second quarter worth about $584,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company’s research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris’ lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.