Brokerages Set Acer Therapeutics Inc (NASDAQ:ACER) Price Target at $22.33

Shares of Acer Therapeutics Inc (NASDAQ:ACER) have earned an average recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $22.33.

Several research firms have recently weighed in on ACER. Zacks Investment Research raised shares of HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BidaskClub raised shares of YRC Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Needham & Company LLC cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. Finally, Roth Capital reduced their target price on shares of Acer Therapeutics from $66.00 to $9.00 in a report on Tuesday, June 25th.

A number of hedge funds have recently made changes to their positions in ACER. SG Americas Securities LLC bought a new stake in shares of Acer Therapeutics in the 1st quarter worth approximately $101,000. Laurion Capital Management LP bought a new stake in shares of Acer Therapeutics in the 1st quarter worth approximately $253,000. Tibra Equities Europe Ltd bought a new stake in shares of Acer Therapeutics in the 1st quarter worth approximately $297,000. Barclays PLC bought a new stake in shares of Acer Therapeutics in the 4th quarter worth approximately $499,000. Finally, Northern Trust Corp lifted its position in shares of Acer Therapeutics by 5.7% in the 4th quarter. Northern Trust Corp now owns 33,572 shares of the biopharmaceutical company’s stock worth $676,000 after acquiring an additional 1,797 shares during the period. 31.11% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ACER traded down $0.31 during midday trading on Tuesday, hitting $2.99. The stock had a trading volume of 446,340 shares, compared to its average volume of 153,773. The firm’s 50 day moving average is $11.34. The stock has a market cap of $30.16 million, a P/E ratio of -1.20 and a beta of 1.59. Acer Therapeutics has a 52 week low of $2.97 and a 52 week high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.04. On average, sell-side analysts predict that Acer Therapeutics will post -2.92 earnings per share for the current year.

About Acer Therapeutics

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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Analyst Recommendations for Acer Therapeutics (NASDAQ:ACER)

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