Vanguard Group Inc increased its stake in shares of Acer Therapeutics Inc (NASDAQ:ACER) by 1,898.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,033 shares of the biopharmaceutical company’s stock after buying an additional 231,822 shares during the period. Vanguard Group Inc owned about 2.51% of Acer Therapeutics worth $7,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 valued at $7,526,000 after acquiring an additional 231,822 shares during the period. Renaissance Technologies LLC purchased a new stake in Acer Therapeutics during the 3rd quarter valued at about $346,000. Vivo Capital LLC purchased a new stake in Acer Therapeutics during the 3rd quarter valued at about $17,442,000. Monashee Investment Management LLC purchased a new stake in Acer Therapeutics during the 3rd quarter valued at about $350,000. Finally, BlackRock Inc. boosted 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 valued at $327,000 after acquiring an additional 2,805 shares during the period. 30.76% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ ACER opened at $23.28 on Friday. Acer Therapeutics Inc has a fifty-two week low of $16.02 and a fifty-two week high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings data on Monday, November 12th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. On average, equities analysts predict that Acer Therapeutics Inc will post -2.04 EPS for the current fiscal year.

ACER has been the subject of several analyst reports. BidaskClub cut Acer Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, October 19th. HC Wainwright set a $55.00 target price on Acer Therapeutics and gave the company a “buy” rating in a report on Monday, October 29th. Zacks Investment Research upgraded Acer Therapeutics from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, November 14th. Finally, Needham & Company LLC started coverage on Acer Therapeutics in a report on Thursday, December 20th. They issued a “buy” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $49.20.

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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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Institutional Ownership by Quarter for Acer Therapeutics (NASDAQ:ACER)

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