Zacks Investment Research upgraded shares of Acer Therapeutics (NASDAQ:ACER) from a sell rating to a hold rating in a research note released 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. “

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.

NASDAQ ACER traded down $2.12 on Friday, hitting $19.12. 129,404 shares of the company were exchanged, compared to its average volume of 65,996. 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 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.

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