Q2 2018 EPS Estimates for Acer Therapeutics (ACER) Raised by Analyst

Acer Therapeutics (NASDAQ:ACER) – William Blair upped their Q2 2018 earnings per share (EPS) estimates for shares of Acer Therapeutics in a research report issued on Tuesday, May 15th. William Blair analyst T. Lugo now anticipates that the biopharmaceutical company will post earnings per share of ($0.57) for the quarter, up from their previous forecast of ($0.83). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Acer Therapeutics’ Q3 2018 earnings at ($0.54) EPS, Q4 2018 earnings at ($0.57) EPS, FY2018 earnings at ($2.22) EPS, FY2019 earnings at ($1.13) EPS and FY2020 earnings at $1.23 EPS.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings results on Monday, May 14th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.16.

ACER has been the subject of several other reports. Roth Capital assumed coverage on Acer Therapeutics in a research report on Monday, February 26th. They set a “buy” rating and a $70.00 price target for the company. Zacks Investment Research upgraded Acer Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 9th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Acer Therapeutics in a research report on Friday, March 9th. Finally, ValuEngine raised Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Acer Therapeutics has an average rating of “Buy” and a consensus price target of $47.33.

Shares of ACER opened at $19.82 on Thursday. Acer Therapeutics has a one year low of $18.40 and a one year high of $18.40. The company has a market cap of $136.90 million, a P/E ratio of -5.16 and a beta of 2.36.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACER. Perceptive Advisors LLC acquired a new position in Acer Therapeutics during the fourth quarter worth $2,091,000. J. Goldman & Co LP acquired a new position in Acer Therapeutics during the fourth quarter worth $1,496,000. Stonepine Capital Management LLC acquired a new position in Acer Therapeutics during the fourth quarter worth $1,385,000. Heartland Advisors Inc. acquired a new position in Acer Therapeutics during the first quarter worth $1,071,000. Finally, Neuberger Berman Group LLC acquired a new position in Acer Therapeutics during the first quarter worth $385,000. 7.68% of the stock is currently owned by institutional investors.

About Acer Therapeutics

Acer Therapeutics Inc develops therapies for the treatment of serious ultra-rare diseases with critical unmet medical needs. The company offers Celiprolol for vascular ehlers-danlos syndrome and ACER-001 for maple syrup urine disease (MSUD). It also offers advancing ACER-001 for the treatment of urea cycle disorders (UCD).

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