BlackRock Inc. grew its holdings in shares of Acer Therapeutics Inc (NASDAQ:ACER) by 2,015.8% during the second quarter, HoldingsChannel reports. The firm owned 7,786 shares of the biopharmaceutical company’s stock after acquiring an additional 7,418 shares during the quarter. BlackRock Inc.’s holdings in Acer Therapeutics were worth $168,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Heartland Advisors Inc. raised its holdings in shares of Acer Therapeutics by 177.0% in the second quarter. Heartland Advisors Inc. now owns 154,000 shares of the biopharmaceutical company’s stock worth $3,326,000 after acquiring an additional 98,400 shares during the last quarter. Institutional investors own 15.97% of the company’s stock.

ACER has been the subject of a number of analyst reports. Zacks Investment Research cut Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the stock a “buy” rating in a report on Monday, October 29th. BidaskClub cut Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Raymond James raised Acer Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $31.00 to $46.00 in a report on Friday, August 17th. Finally, William Blair reissued an “outperform” rating on shares of Acer Therapeutics in a report on Tuesday, August 14th. One research 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’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.50.

Acer Therapeutics stock opened at $21.61 on Wednesday. The firm has a market capitalization of $248.61 million, a P/E ratio of -5.63 and a beta of 2.75. Acer Therapeutics Inc has a 52 week low of $11.36 and a 52 week high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last released its earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.10. Equities analysts predict that Acer Therapeutics Inc will post -2.12 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Acer Therapeutics (NASDAQ:ACER)

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