Insider Buying: Acer Therapeutics Inc (NASDAQ:ACER) Director Acquires $157,500.00 in Stock
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.
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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