Zacks Investment Research downgraded shares of Acer Therapeutics (NASDAQ:ACER) from a buy rating to a hold rating in a research note published on Monday morning.

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. “

Several other equities analysts have also issued reports on the company. BidaskClub lowered Acer Therapeutics from a hold rating to a sell rating in a research report on Friday, October 19th. HC Wainwright reiterated a buy rating and issued a $55.00 price objective on shares of Acer Therapeutics in a research report on Wednesday, December 5th. Finally, Needham & Company LLC initiated coverage on Acer Therapeutics in a research report on Thursday, December 20th. They issued a buy rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $49.20.

Shares of ACER stock opened at $23.75 on Monday. The stock has a market capitalization of $230.85 million, a P/E ratio of -6.18 and a beta of 2.61. Acer Therapeutics has a 12 month low of $16.02 and a 12 month high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last posted its earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.10. Analysts anticipate that Acer Therapeutics will post -2.04 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vivo Capital LLC bought a new stake in shares of Acer Therapeutics during the 3rd quarter worth approximately $17,442,000. Vanguard Group Inc increased its holdings in shares of Acer Therapeutics by 1,898.5% during the 3rd quarter. Vanguard Group Inc now owns 244,033 shares of the biopharmaceutical company’s stock worth $7,526,000 after acquiring an additional 231,822 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Acer Therapeutics by 1,898.5% during the 3rd quarter. Vanguard Group Inc. now owns 244,033 shares of the biopharmaceutical company’s stock worth $7,526,000 after acquiring an additional 231,822 shares during the last quarter. Heartland Advisors Inc. increased its holdings in shares of Acer Therapeutics by 36.4% during the 3rd quarter. Heartland Advisors Inc. now owns 210,000 shares of the biopharmaceutical company’s stock worth $6,476,000 after acquiring an additional 56,000 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Acer Therapeutics during the 3rd quarter worth approximately $3,855,000. Hedge funds and other institutional investors own 30.76% of the company’s stock.

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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