Acer Therapeutics Inc (ACER) Receives Consensus Recommendation of “Buy” from Analysts

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Acer Therapeutics Inc (NASDAQ:ACER) has been assigned an average recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $57.00.

A number of analysts have recently issued reports on ACER shares. Zacks Investment Research cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. HC Wainwright set a $55.00 target price on shares of Acer Therapeutics and gave the stock a “buy” rating in a research note on Monday. BidaskClub cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Raymond James upgraded shares of Acer Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $31.00 to $46.00 in a research note on Friday, August 17th. Finally, William Blair restated an “outperform” rating on shares of Acer Therapeutics in a research note on Tuesday, August 14th.

Large investors have recently added to or reduced their stakes in the stock. Acuta Capital Partners LLC bought a new position in Acer Therapeutics during the second quarter worth about $2,360,000. Heartland Advisors Inc. increased its position in Acer Therapeutics by 177.0% during the second quarter. Heartland Advisors Inc. now owns 154,000 shares of the biopharmaceutical company’s stock worth $3,326,000 after acquiring an additional 98,400 shares during the period. First Manhattan Co. increased its position in Acer Therapeutics by 80.0% during the third quarter. First Manhattan Co. now owns 9,000 shares of the biopharmaceutical company’s stock worth $277,000 after acquiring an additional 4,000 shares during the period. BlackRock Inc. increased its position in Acer Therapeutics by 2,015.8% during the second quarter. BlackRock Inc. now owns 7,786 shares of the biopharmaceutical company’s stock worth $168,000 after acquiring an additional 7,418 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Acer Therapeutics during the third quarter worth about $3,855,000. 7.49% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ACER opened at $22.58 on Thursday. The stock has a market cap of $197.20 million, a PE ratio of -5.88 and a beta of 2.45. Acer Therapeutics has a 52-week low of $11.36 and a 52-week high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last posted its earnings results on Monday, August 13th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.09). Research analysts forecast that Acer Therapeutics will post -2.22 earnings per share for the current year.

Acer Therapeutics Company Profile

Acer Therapeutics Inc, a pharmaceutical company, develops therapies for the treatment of rare diseases with critical unmet medical needs. Its product candidates include Celiprolol for the treatment of vascular Ehlers-Danlos syndrome; and ACER-001 for the treatment of urea cycle disorders and maple syrup urine disease.

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