Acer Therapeutics Inc (ACER) Given Consensus Recommendation of “Buy” by Analysts
Shares of Acer Therapeutics Inc (NASDAQ:ACER) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $42.50.
A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Acer Therapeutics in a research note on Wednesday, December 5th. Zacks Investment Research cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Needham & Company LLC assumed coverage on shares of Acer Therapeutics in a research note on Thursday, December 20th. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Raymond James assumed coverage on shares of Acer Therapeutics in a research note on Friday, February 15th. They set an “outperform” rating and a $40.00 price objective on the stock.
Institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its position in Acer Therapeutics by 100.0% in the fourth quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 1,605 shares in the last quarter. JPMorgan Chase & Co. raised its position in Acer Therapeutics by 19,242.2% in the third quarter. JPMorgan Chase & Co. now owns 8,704 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 8,659 shares in the last quarter. BlackRock Inc. raised its position in Acer Therapeutics by 36.0% in the third quarter. BlackRock Inc. now owns 10,591 shares of the biopharmaceutical company’s stock worth $327,000 after acquiring an additional 2,805 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Acer Therapeutics in the third quarter worth about $346,000. Finally, First Manhattan Co. raised its position in Acer Therapeutics by 44.4% in the fourth quarter. First Manhattan Co. now owns 13,000 shares of the biopharmaceutical company’s stock worth $261,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 30.04% of the company’s stock.
Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.39). On average, research analysts predict that Acer Therapeutics will post -2.67 EPS 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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