Analysts Set Acer Therapeutics Inc (ACER) Target Price at $49.50

Shares of Acer Therapeutics Inc (NASDAQ:ACER) have received an average rating of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $49.50.

A number of research analysts have commented on ACER shares. HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 9th. William Blair reaffirmed an “outperform” rating on shares of Acer Therapeutics in a research report on Tuesday, August 14th. Zacks Investment Research lowered Acer Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Raymond James raised Acer Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $31.00 to $46.00 in a research report on Friday, August 17th. Finally, BidaskClub downgraded Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th.

ACER traded down $0.80 during midday trading on Monday, reaching $22.91. 15,840 shares of the company’s stock traded hands, compared to its average volume of 21,693. The firm has a market capitalization of $230.44 million, a price-to-earnings ratio of -5.97 and a beta of 2.75. Acer Therapeutics has a 52 week low of $11.36 and a 52 week high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. On average, analysts anticipate that Acer Therapeutics will post -2.12 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Acer Therapeutics by 1,898.5% in the 3rd quarter. Vanguard Group Inc. now owns 244,033 shares of the biopharmaceutical company’s stock worth $7,526,000 after buying an additional 231,822 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Acer Therapeutics in the 3rd quarter worth approximately $346,000. Vivo Capital LLC purchased a new stake in shares of Acer Therapeutics in the 3rd quarter worth approximately $17,442,000. Monashee Investment Management LLC purchased a new stake in shares of Acer Therapeutics in the 3rd quarter worth approximately $350,000. Finally, BlackRock Inc. grew its stake in shares of Acer Therapeutics by 36.0% in the 3rd quarter. BlackRock Inc. now owns 10,591 shares of the biopharmaceutical company’s stock worth $327,000 after buying an additional 2,805 shares during the last quarter. Institutional investors own 15.97% of the company’s stock.

About Acer Therapeutics

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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