Aclaris Therapeutics (ACRS) Downgraded by BidaskClub to Sell
BidaskClub cut shares of Aclaris Therapeutics (NASDAQ:ACRS) from a hold rating to a sell rating in a research note released on Thursday.
Several other brokerages also recently issued reports on ACRS. Cantor Fitzgerald set a $50.00 price target on shares of Aclaris Therapeutics and gave the company a buy rating in a report on Wednesday, October 4th. Zacks Investment Research downgraded shares of Aclaris Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.20.
Shares of Aclaris Therapeutics (NASDAQ ACRS) traded up $0.14 during mid-day trading on Thursday, reaching $24.40. 319,680 shares of the company traded hands, compared to its average volume of 258,089. Aclaris Therapeutics has a 12-month low of $21.32 and a 12-month high of $33.25. The company has a market cap of $752.37, a P/E ratio of -11.30 and a beta of 1.96.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. raised its stake in shares of Aclaris Therapeutics by 171.8% in the second quarter. Citigroup Inc. now owns 4,313 shares of the biotechnology company’s stock worth $117,000 after acquiring an additional 2,726 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Aclaris Therapeutics by 98.3% in the second quarter. Legal & General Group Plc now owns 5,254 shares of the biotechnology company’s stock worth $142,000 after acquiring an additional 2,605 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Aclaris Therapeutics in the third quarter worth about $142,000. Voya Investment Management LLC bought a new position in shares of Aclaris Therapeutics in the second quarter worth about $247,000. Finally, Trexquant Investment LP bought a new position in shares of Aclaris Therapeutics in the third quarter worth about $247,000. 92.02% of the stock is 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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