Acer Therapeutics (ACER) Upgraded by Zacks Investment Research to “Hold”
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 brokerages also recently issued reports on ACER. ValuEngine upgraded shares of Acer Therapeutics from a hold rating to a buy rating in a research report on Wednesday. Raymond James started coverage on shares of Acer Therapeutics in a research report on Friday, February 15th. They set an outperform rating and a $40.00 price target on the stock. HC Wainwright set a $55.00 price target on shares of Acer Therapeutics and gave the stock a buy rating in a research report on Wednesday, April 17th. Finally, BidaskClub upgraded shares of Acer Therapeutics from a sell rating to a hold rating in a research report on Saturday, April 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Acer Therapeutics currently has a consensus rating of Buy and an average target price of $42.50.
Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.04. On average, sell-side analysts forecast that Acer Therapeutics will post -3.09 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in ACER. BlackRock Inc. raised its holdings in Acer Therapeutics by 36.0% during the 3rd quarter. BlackRock Inc. now owns 10,591 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 2,805 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Acer Therapeutics during the 3rd quarter worth about $346,000. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 231,822 shares during the last quarter. Vanguard Group Inc raised its holdings in 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 purchasing an additional 231,822 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Acer Therapeutics by 100.0% during the 4th quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,605 shares during the last quarter. 30.78% of the stock is owned by hedge funds and other institutional investors.
About Acer Therapeutics
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.
Recommended Story: Should You Consider an Index Fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acer Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acer Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.