Zacks Investment Research upgraded shares of Acer Therapeutics (NASDAQ:ACER) from a hold rating to a buy rating in a research report released on Tuesday morning. The brokerage currently has $27.00 price target on the biopharmaceutical company’s stock.
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. “
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Several other research analysts have also recently issued reports on ACER. HC Wainwright set a $55.00 target price on shares of Acer Therapeutics and gave the company a buy rating in a report on Monday, October 29th. Needham & Company LLC initiated coverage on shares of Acer Therapeutics in a report on Thursday, December 20th. They issued a buy rating and a $48.00 target price for the company. Finally, BidaskClub cut shares of Acer Therapeutics from a hold rating to a sell rating in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. Acer Therapeutics currently has a consensus rating of Buy and an average target price of $49.20.
Shares of NASDAQ:ACER opened at $23.28 on Tuesday. Acer Therapeutics has a 52 week low of $16.02 and a 52 week high of $34.10. The company has a market capitalization of $225.48 million, a price-to-earnings ratio of -6.06 and a beta of 2.61.
Acer Therapeutics (NASDAQ:ACER) last announced its quarterly earnings data on Monday, November 12th. The biopharmaceutical company reported ($0.43) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.10. As a group, equities research analysts anticipate that Acer Therapeutics will post -2.04 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Acer Therapeutics by 100.0% in the 4th quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 1,605 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Acer Therapeutics by 2,015.8% in the 2nd quarter. BlackRock Inc. now owns 7,786 shares of the biopharmaceutical company’s stock valued at $168,000 after buying an additional 7,418 shares in the last quarter. First Manhattan Co. boosted its holdings in shares of Acer Therapeutics by 44.4% in the 4th quarter. First Manhattan Co. now owns 13,000 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 4,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Acer Therapeutics by 19,242.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,704 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 8,659 shares in the last quarter. Finally, Fosun International Ltd acquired a new position in shares of Acer Therapeutics in the 4th quarter valued at $291,000. Institutional investors and hedge funds own 30.76% of the company’s stock.
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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