Brokerages Set Acer Therapeutics Inc (NASDAQ:ACER) Target Price at $28.50
Shares of Acer Therapeutics Inc (NASDAQ:ACER) have received a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.50.
A number of equities analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Acer Therapeutics in a research report on Wednesday, October 30th. ValuEngine raised shares of Acer Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. William Blair reaffirmed a “neutral” rating on shares of Acer Therapeutics in a research report on Friday, August 2nd. Finally, Zacks Investment Research cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.
A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Acer Therapeutics by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 21,268 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 5,780 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Acer Therapeutics by 24.4% during the second quarter. Northern Trust Corp now owns 48,313 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 9,491 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Acer Therapeutics during the second quarter worth $42,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Acer Therapeutics during the second quarter worth $47,000. Finally, Jane Street Group LLC acquired a new stake in shares of Acer Therapeutics during the second quarter worth $49,000. 24.25% of the stock is owned by hedge funds and other institutional investors.
Acer Therapeutics (NASDAQ:ACER) last released its earnings results on Wednesday, November 13th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.05. On average, research analysts predict that Acer Therapeutics will post -2.7 EPS for the current year.
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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