Zacks Investment Research Downgrades Acer Therapeutics (NASDAQ:ACER) to Hold

Zacks Investment Research cut shares of Acer Therapeutics (NASDAQ:ACER) from a buy rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Acer Therapeutics Inc. is a pharmaceutical company. It develops therapies for the treatment of ultra-rare diseases with critical unmet medical need. The company’s product pipeline consists of Edsivo (TM) and ACER-001 which are in clinical stage. Acer Therapeutics Inc., formerly known as Opexa Therapeutics, Inc., is based in Cambridge, United States. “

Separately, William Blair reissued a market perform rating on shares of Acer Therapeutics in a research note on Tuesday, May 18th.

Acer Therapeutics stock opened at $3.05 on Tuesday. The stock has a market cap of $43.65 million, a PE ratio of -1.82 and a beta of 1.49. The stock’s 50-day moving average is $2.86. Acer Therapeutics has a 52 week low of $2.15 and a 52 week high of $5.84.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings results on Sunday, May 16th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.33. The business had revenue of $4.00 million during the quarter, compared to analyst estimates of $2.00 million. Equities analysts expect that Acer Therapeutics will post -1.12 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of ACER. HighPoint Advisor Group LLC acquired a new position in shares of Acer Therapeutics in the 4th quarter valued at about $113,000. Dimensional Fund Advisors LP acquired a new position in shares of Acer Therapeutics in the 1st quarter valued at about $66,000. Squarepoint Ops LLC acquired a new position in shares of Acer Therapeutics in the 1st quarter valued at about $233,000. Finally, Virtu Financial LLC acquired a new position in shares of Acer Therapeutics in the 1st quarter valued at about $55,000. 11.44% of the stock is currently owned by hedge funds and other institutional investors.

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 four clinical-stage candidates: EDSIVO for the treatment of vascular Ehlers-Danlos Syndrome in patients with a confirmed type III collagen mutation; ACER-001, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders and maple syrup urine disease; ACER-801 (osanetant) for the treatment of induced Vasomotor Symptoms; and ACER-2820 (emetine), a host-directed therapy against a variety of infectious diseases, including COVID-19.

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