Acer Therapeutics Inc (NASDAQ:ACER)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as low as $2.20. Acer Therapeutics shares last traded at $2.30, with a volume of 1,910 shares.
Several equities analysts have recently commented on the stock. Wedbush set a $48.00 price target on shares of Acer Therapeutics and gave the stock a “buy” rating in a research report on Monday, June 10th. William Blair restated a “neutral” rating on shares of Acer Therapeutics in a research report on Friday, August 2nd. Zacks Investment Research upgraded shares of Acer Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Roth Capital lowered their price target on shares of Acer Therapeutics from $66.00 to $9.00 in a research report on Tuesday, June 25th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price target (down previously from $55.00) on shares of Acer Therapeutics in a research report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.33.
The company has a market capitalization of $26.13 million, a price-to-earnings ratio of -0.93 and a beta of 1.54. The stock has a fifty day moving average price of $3.46.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its holdings in 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 purchasing an additional 1,797 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Acer Therapeutics by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 35,736 shares of the biopharmaceutical company’s stock valued at $719,000 after acquiring an additional 4,297 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Acer Therapeutics in the first quarter worth $101,000. Laurion Capital Management LP purchased a new position in shares of Acer Therapeutics in the first quarter valued at $253,000. Finally, Sphera Funds Management LTD. purchased a new position in shares of Acer Therapeutics in the first quarter valued at $1,215,000. 31.07% of the stock is owned by institutional investors.
Acer Therapeutics Company Profile (NASDAQ:ACER)
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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