Aclaris Therapeutics (NASDAQ:ACRS) Shares Gap Down to $2.13

Aclaris Therapeutics Inc (NASDAQ:ACRS) gapped down before the market opened on Friday . The stock had previously closed at $1.38, but opened at $2.13. Aclaris Therapeutics shares last traded at $2.00, with a volume of 37,094 shares.

ACRS has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $50.00 price objective on shares of Aclaris Therapeutics in a report on Friday, March 15th. ValuEngine raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 1st. BidaskClub raised shares of Aclaris Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, Leerink Swann began coverage on shares of Aclaris Therapeutics in a report on Monday, May 6th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.69.

The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.30 and a current ratio of 4.33. The stock’s fifty day simple moving average is $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.05). Aclaris Therapeutics had a negative net margin of 999.53% and a negative return on equity of 78.05%. The company had revenue of $5.04 million during the quarter, compared to the consensus estimate of $5.13 million. As a group, equities analysts anticipate that Aclaris Therapeutics Inc will post -2.87 EPS for the current year.

In other Aclaris Therapeutics news, major shareholder James E. Flynn sold 454,261 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $4.59, for a total value of $2,085,057.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James E. Flynn sold 339,537 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $4.62, for a total transaction of $1,568,660.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,408,508 shares of company stock valued at $7,421,891. Insiders own 14.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in ACRS. Marshall Wace LLP bought a new position in Aclaris Therapeutics during the first quarter worth $103,000. DekaBank Deutsche Girozentrale boosted its position in Aclaris Therapeutics by 19.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 12,700 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 2,100 shares during the period. Victory Capital Management Inc. boosted its position in Aclaris Therapeutics by 41.5% during the first quarter. Victory Capital Management Inc. now owns 102,251 shares of the biotechnology company’s stock worth $612,000 after purchasing an additional 29,970 shares during the period. Rhumbline Advisers boosted its position in Aclaris Therapeutics by 16.4% during the first quarter. Rhumbline Advisers now owns 45,962 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 6,472 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in Aclaris Therapeutics by 29.2% during the first quarter. Rice Hall James & Associates LLC now owns 699,307 shares of the biotechnology company’s stock worth $4,189,000 after purchasing an additional 158,056 shares during the period. Institutional investors own 91.79% of the company’s stock.

About Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.

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