Acer Therapeutics Inc (NASDAQ:ACER) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 607,500 shares, a decline of 8.6% from the September 30th total of 664,400 shares. Based on an average daily volume of 83,600 shares, the short-interest ratio is currently 7.3 days. Currently, 12.5% of the shares of the company are short sold.

A number of equities research analysts have commented on the stock. ValuEngine raised shares of Acer Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating on shares of Acer Therapeutics in a research report on Wednesday, October 30th. Zacks Investment Research downgraded shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, William Blair reaffirmed a “neutral” rating on shares of Acer Therapeutics in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Acer Therapeutics has a consensus rating of “Hold” and a consensus price target of $26.29.

NASDAQ:ACER opened at $3.28 on Tuesday. Acer Therapeutics has a 12 month low of $1.87 and a 12 month high of $28.25. The company has a market cap of $31.60 million, a PE ratio of -1.32 and a beta of 1.53. The company has a 50 day simple moving average of $3.17 and a two-hundred day simple moving average of $7.28.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings data on Wednesday, November 13th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. As a group, equities analysts predict that Acer Therapeutics will post -2.71 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Acer Therapeutics during the 2nd quarter valued at $49,000. Citadel Advisors LLC bought a new stake in shares of Acer Therapeutics during the 2nd quarter valued at $67,000. Vanguard Group Inc. grew its position in shares of Acer Therapeutics by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 277,963 shares of the biopharmaceutical company’s stock valued at $1,084,000 after acquiring an additional 14,337 shares during the period. BlackRock Inc. grew its position in shares of Acer Therapeutics by 1,560.8% during the 2nd quarter. BlackRock Inc. now owns 331,553 shares of the biopharmaceutical company’s stock valued at $1,293,000 after acquiring an additional 311,590 shares during the period. Finally, Northern Trust Corp grew its position in shares of Acer Therapeutics by 24.4% during the 2nd quarter. Northern Trust Corp now owns 48,313 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 9,491 shares during the period. 23.46% of the stock is owned by hedge funds and other institutional investors.

About Acer Therapeutics

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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