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ACRS

Aclaris Therapeutics

$1.20

0.04 (3.45%)

08:55
10/11/19
10/11
08:55
10/11/19
08:55

William Blair sees 'significant value disconnect' in Aclaris Therapeutics

William Blair analyst Tim Lugo maintains an Outperform rating on Aclaris Therapeutics after the company announced the divestiture of worldwide rights for Rhofade to EPI Health for up to $55M. The analyst says the deal value compares well with his previously estimated net present value for the Rhofade program of $65M. The divestiture is a first step in management extracting value from its commercial portfolio as the company has signaled additional partnerships and divestitures, Lugo tells investors in a research note. He continues to see a "significant value disconnect" with Aclaris shares trading at less than half of cash. The analyst sees "some promising early-stage assets, and near-term potential for strategic partnerships."

ACRS Aclaris Therapeutics
$1.20

0.04 (3.45%)

08/09/19
CANT
08/09/19
NO CHANGE
Target $5
CANT
Overweight
Aclaris Therapeutics price target lowered to $5 from $24 at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen lowered her price target for Aclaris Therapeutics to $5 from $24 to reflect downward earnings revisions post the company's Q2 results. The analyst, however, still thinks there is value to be unlocked in Rhofade and Aclaris' pipeline. As such, she expects multiple expansion to drive shares higher as "this is realized through solid execution." Chen reiterates an Overweight rating on Aclaris Therapeutics.
09/06/19
JMPS
09/06/19
DOWNGRADE
JMPS
Market Perform
Aclaris Therapeutics downgraded to Market Perform from Outperform at JMP Securities
JMP Securities analyst Donald Ellis downgraded Aclaris Therapeutics to Market Perform from Outperform.
09/06/19
09/06/19
DOWNGRADE

Market Perform
Aclaris Therapeutics cut to Market Perform at JMP Securities on strategic review
As previously reported, JMP Securities analyst Donald Ellis downgraded Aclaris Therapeutics to Market Perform from Outperform after the company announced that it is reviewing strategic alternatives and laying off staff yesterday. The analyst notes that while the stock is trading at a near cash per share valuation, it has also shifted its focus to developing early-stage assets in rheumatology and immuno-inflammatory conditions and has no clinical trial data yet from these programs yet. Ellis expects Aclaris to spend about $33M over the next 12 months, leaving it with $62M in cash.
09/06/19
09/06/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Antero Resources (AR) downgraded to Neutral from Buy at Goldman Sachs with analyst Brian Singer saying the stock offers a less attractive relative valuation at 5.5-times his expected FY20 upstream pre-hedge EBITDA, which is largely in line with its other "gassy" peers. 2. Bank of America (BAC) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Kleinhanzl saying that following the Federal Reserve's recent rate cut, the trade war escalated, which is now expected to lower economic growth. 3. Conagra Brands (CAG) downgraded to Neutral from Buy at Goldman Sachs with analyst Jason English saying consensus estimates for sales and earnings may be too high in the near term. 4. Aclaris Therapeutics (ACRS) downgraded to Market Perform from Outperform at JMP Securities with analyst Donald Ellis citing the company's announcement that it is reviewing strategic alternatives and laying off staff yesterday. 5. Entergy (ETR) downgraded to Equal Weight from Overweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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