Acer Therapeutics Inc (NASDAQ:ACER) Director Steve Aselage purchased 45,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was acquired at an average price of $3.50 per share, for a total transaction of $157,500.00. Following the completion of the purchase, the director now owns 63,905 shares of the company’s stock, valued at $223,667.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of ACER stock opened at $3.93 on Friday. The stock’s 50-day moving average is $3.36 and its two-hundred day moving average is $3.25. The firm has a market cap of $40.54 million, a price-to-earnings ratio of -1.51 and a beta of 1.81. Acer Therapeutics Inc has a 1 year low of $1.08 and a 1 year high of $7.25.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.09). On average, research analysts forecast that Acer Therapeutics Inc will post -1.38 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Acer Therapeutics by 22.5% during the first quarter. State Street Corp now owns 136,735 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 25,156 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Acer Therapeutics by 39.0% during the first quarter. Federated Hermes Inc. now owns 89,770 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 25,176 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Acer Therapeutics by 99.7% during the first quarter. Bank of New York Mellon Corp now owns 21,479 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 10,721 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Acer Therapeutics by 139.7% during the fourth quarter. UBS Group AG now owns 9,180 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 5,350 shares during the last quarter. 22.45% of the stock is currently owned by hedge funds and other institutional investors.

ACER has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Acer Therapeutics in a research note on Friday, May 15th. Zacks Investment Research lowered Acer Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, July 20th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Acer Therapeutics in a report on Tuesday, May 12th. ValuEngine lowered Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Roth Capital reaffirmed a “buy” rating on shares of Acer Therapeutics in a report on Monday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.88.

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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