Zacks Investment Research upgraded shares of Acer Therapeutics (NASDAQ:ACER) from a sell rating to a hold rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Acer Therapeutics Inc. is a pharmaceutical company. It develops therapies for the treatment of ultra-rare diseases with critical unmet medical need. The company’s product pipeline consists of Edsivo (TM) and ACER-001 which are in clinical stage. Acer Therapeutics Inc., formerly known as Opexa Therapeutics, Inc., is based in Cambridge, United States. “

A number of other brokerages have also recently weighed in on ACER. ValuEngine raised shares of Acer Therapeutics from a hold rating to a buy rating in a report on Wednesday, May 15th. Raymond James initiated coverage on shares of Acer Therapeutics in a report on Friday, February 15th. They set an outperform rating and a $40.00 target price on the stock. HC Wainwright set a $55.00 target price on shares of Acer Therapeutics and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, BidaskClub raised shares of Acer Therapeutics from a sell rating to a hold rating in a report on Saturday, April 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $42.50.

Shares of NASDAQ:ACER opened at $19.12 on Friday. The firm has a market cap of $192.86 million, a price-to-earnings ratio of -7.68 and a beta of 2.46. Acer Therapeutics has a 1-year low of $16.02 and a 1-year high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last issued its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.83) by $0.04. Sell-side analysts anticipate that Acer Therapeutics will post -3.09 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Acer Therapeutics by 100.0% in the 4th 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 during the period. SG Americas Securities LLC acquired a new stake in shares of Acer Therapeutics in the 1st quarter worth about $101,000. Morgan Stanley increased its holdings in shares of Acer Therapeutics by 114.0% in the 1st quarter. Morgan Stanley now owns 5,625 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 2,996 shares during the period. Citigroup Inc. acquired a new stake in shares of Acer Therapeutics in the 1st quarter worth about $221,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Acer Therapeutics in the 1st quarter worth about $253,000. 30.78% of the stock is currently owned by institutional investors and hedge funds.

Acer Therapeutics Company Profile

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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