Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Aclaris Therapeutics Inc (ACRS) today and set a price target of $50. The company’s shares opened today at $5.61, close to its 52-week low of $5.49.
Chen commented:
“: Post a 4Q18 beat, positive topical eyebrow data, and ahead of what we expect to be a catalyst rich year for ACRS in 2019, we are reiterating our OW rating and 12-month PT of $50. We continue to recommend ACRS as one of our top ideas this year. We think ACRS’s valuation is inexpensive for a company with two commercial assets and multiple, potentially positive, data readouts coming up. Therefore, we think upward earnings revisions to levels not yet reflected in sell- side consensus expectations should drive the stock higher.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 13.8% and a 42.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aclaris Therapeutics Inc with a $50 average price target.
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Based on Aclaris Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $32.74 million. In comparison, last year the company had a GAAP net loss of $22.93 million.
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Aclaris Therapeutics, Inc. is a dermatologist-led biopharmaceutical company, which engages in identifying, developing, and commercializing novel drugs to address unmet needs in medical and aesthetic dermatology and immunology. It operates thrpough Dermatology Therapeutics and Contract Research segments.
