In a report released yesterday, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Aclaris Therapeutics Inc (NASDAQ: ACRS), with a price target of $50. The company’s shares closed yesterday at $18.08, close to its 52-week low of $16.01.
Chen wrote:
“We expect upwards earnings revisions to levels not reflected in sell-side consensus expectations to drive shares higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $50. The Disclosure Section may be found on pages 3 – 5.Valuation We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $50.”
According to TipRanks.com, Chen ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.3% and a 40.2% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Paratek Pharmaceuticals.
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 March 31, the company reported a quarterly GAAP net loss of $30.23 million. In comparison, last year the company had a GAAP net loss of $14.84 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACRS in relation to earlier this year.
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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.
