In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Aclaris Therapeutics (ACRS), with a price target of $50.00. The company’s shares closed last Tuesday at $17.81.
According to TipRanks.com, Selvaraju is a 5-star analyst with an average return of 17.3% and a 53.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Protalix Biotherapeutics, EyePoint Pharmaceuticals, and Bausch Health Companies.
Currently, the analyst consensus on Aclaris Therapeutics is a Strong Buy with an average price target of $35.33, representing a 91.0% upside. In a report issued on June 8, William Blair also maintained a Buy rating on the stock.
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Based on Aclaris Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.78 million and GAAP net loss of $28.75 million. In comparison, last year the company earned revenue of $1.41 million and had a GAAP net loss of $15.59 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACRS in relation to earlier this year.
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Aclaris Therapeutics, Inc. operates as a dermatologist-led biopharmaceutical company, which engages in identifying, developing, and commercializing novel drugs to address the needs in medical and aesthetic dermatology and immunology. It operates through Therapeutics and Contract Research segments. The Therapeutics segment focuses in identifying, developing, and commercializing innovative and differentiated therapies to address significant unmet needs in medical and aesthetic dermatology. The Contract Research segment provides laboratory services under contract research arrangements to pharmaceutical and biotech companies. The company was founded by Neal S. Walker, Frank Ruffo, Kamil Ali-Jackson, Christopher V. Powala, and Stuart D. Shanler in July 2012 and is headquartered in Malvern, PA.
