Acer Therapeutics Inc Expected to Post Q2 2019 Earnings of ($0.83) Per Share (ACER)

Acer Therapeutics Inc (NASDAQ:ACER) – Research analysts at William Blair raised their Q2 2019 EPS estimates for Acer Therapeutics in a note issued to investors on Wednesday, May 15th. William Blair analyst T. Lugo now forecasts that the biopharmaceutical company will post earnings of ($0.83) per share for the quarter, up from their prior forecast of ($0.92). William Blair also issued estimates for Acer Therapeutics’ Q3 2019 earnings at ($0.69) EPS, Q4 2019 earnings at ($0.44) EPS, FY2019 earnings at ($2.66) EPS, Q1 2020 earnings at ($0.25) EPS, Q2 2020 earnings at ($0.10) EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at $0.23 EPS and FY2020 earnings at ($0.17) EPS.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.83) by $0.04.

A number of other equities analysts also recently issued reports on ACER. Zacks Investment Research upgraded Acer Therapeutics from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Monday, January 28th. Raymond James started coverage on Acer Therapeutics in a research note on Friday, February 15th. They issued an “outperform” rating and a $40.00 price target on the stock. BidaskClub upgraded Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, ValuEngine downgraded Acer Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Acer Therapeutics currently has an average rating of “Buy” and an average price target of $42.50.

ACER stock opened at $19.12 on Friday. The firm has a market capitalization of $214.26 million, a PE ratio of -7.68 and a beta of 2.46. Acer Therapeutics has a 1 year low of $16.02 and a 1 year high of $34.10.

A number of institutional investors have recently made changes to their positions in ACER. Bank of Montreal Can raised its holdings in Acer Therapeutics by 100.0% in the 4th quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,605 shares during the period. SG Americas Securities LLC bought a new position in Acer Therapeutics in the 1st quarter worth $101,000. Morgan Stanley raised its holdings in Acer Therapeutics by 114.0% in the 1st quarter. Morgan Stanley now owns 5,625 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 2,996 shares during the period. Citigroup Inc. bought a new position in Acer Therapeutics in the 1st quarter worth $221,000. Finally, Laurion Capital Management LP bought a new position in Acer Therapeutics in the 1st quarter worth $253,000. 30.78% of the stock is currently owned by institutional investors.

Acer Therapeutics Company Profile

Acer Therapeutics Inc, a pharmaceutical company, focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. Its pipeline includes three clinical-stage candidates: EDSIVO for the treatment of vascular Ehlers-Danlos Syndrome in patients with a confirmed type III collagen mutation; and ACER-001, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders, maple syrup urine disease, and osanetant for the treatment of various neuroendocrine disorders.

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Earnings History and Estimates for Acer Therapeutics (NASDAQ:ACER)

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