Acer Therapeutics Inc (ACER) Given Average Rating of “Buy” by Analysts

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Shares of Acer Therapeutics Inc (NASDAQ:ACER) have earned an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $42.50.

Several research firms have recently issued reports on ACER. HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the stock a “buy” rating in a research note on Thursday, December 27th. ValuEngine cut Acer Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. Zacks Investment Research raised Acer Therapeutics from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, January 28th. BidaskClub raised Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Finally, Raymond James began coverage on Acer Therapeutics in a research note on Friday, February 15th. They issued an “outperform” rating and a $40.00 price target for the company.

Several large investors have recently added to or reduced their stakes in ACER. Bank of Montreal Can boosted its stake in Acer Therapeutics by 100.0% during the fourth quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 1,605 shares in the last quarter. First Manhattan Co. boosted its stake in Acer Therapeutics by 44.4% during the fourth quarter. First Manhattan Co. now owns 13,000 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 4,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Acer Therapeutics by 19,242.2% during the third quarter. JPMorgan Chase & Co. now owns 8,704 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 8,659 shares in the last quarter. Fosun International Ltd bought a new position in Acer Therapeutics during the fourth quarter valued at about $291,000. Finally, Tibra Equities Europe Ltd bought a new position in Acer Therapeutics during the first quarter valued at about $297,000. 30.16% of the stock is owned by institutional investors.

Shares of ACER opened at $19.91 on Thursday. The firm has a market cap of $200.03 million, a P/E ratio of -8.00 and a beta of 2.60. Acer Therapeutics has a 12 month low of $16.02 and a 12 month high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.39). On average, analysts anticipate that Acer Therapeutics will post -3.08 earnings per share for the current year.

Acer Therapeutics Company Profile

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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