Acer Therapeutics (NASDAQ:ACER) Announces Quarterly Earnings Results
Acer Therapeutics (NASDAQ:ACER) issued its earnings results on Tuesday. The biopharmaceutical company reported ($1.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.31), Bloomberg Earnings reports.
NASDAQ:ACER opened at $2.08 on Wednesday. The stock has a market capitalization of $24.71 million, a price-to-earnings ratio of -0.84 and a beta of 1.54. Acer Therapeutics has a fifty-two week low of $2.20 and a fifty-two week high of $34.10. The company’s 50 day moving average is $3.11.
Several analysts have issued reports on ACER shares. Raymond James lowered Acer Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Roth Capital dropped their price objective on Acer Therapeutics from $66.00 to $9.00 in a research note on Tuesday, June 25th. Zacks Investment Research raised Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Needham & Company LLC lowered Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Finally, Wedbush set a $48.00 price objective on Acer Therapeutics and gave the company a “buy” rating in a research note on Monday, June 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Acer Therapeutics has an average rating of “Hold” and a consensus price target of $30.33.
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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