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.
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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