Acer Therapeutics (ACER) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Acer Therapeutics (NASDAQ:ACER) from a hold rating to a sell rating in a research report report published on Friday, October 19th.

Several other research analysts have also commented on the company. Raymond James raised Acer Therapeutics from an outperform rating to a strong-buy rating and boosted their price target for the stock from $31.00 to $46.00 in a research report on Friday, August 17th. Zacks Investment Research lowered Acer Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 16th. HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the stock a buy rating in a research report on Wednesday, August 15th. William Blair reissued an outperform rating on shares of Acer Therapeutics in a research report on Tuesday, August 14th. Finally, ValuEngine raised Acer Therapeutics from a buy rating to a strong-buy rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $48.00.

Shares of ACER stock traded up $0.29 during mid-day trading on Friday, hitting $24.91. The stock had a trading volume of 7,116 shares, compared to its average volume of 29,773. Acer Therapeutics has a 12-month low of $11.36 and a 12-month high of $34.10. The stock has a market capitalization of $242.20 million, a price-to-earnings ratio of -6.49 and a beta of 2.75.

Acer Therapeutics (NASDAQ:ACER) last issued its earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.10. Analysts forecast that Acer Therapeutics will post -2.22 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Acer Therapeutics by 2,015.8% during 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. JPMorgan Chase & Co. increased its position in Acer Therapeutics by 19,242.2% during 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. First Manhattan Co. increased its position in Acer Therapeutics by 80.0% during the 3rd quarter. First Manhattan Co. now owns 9,000 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 4,000 shares in the last quarter. EAM Investors LLC acquired a new position in Acer Therapeutics during the 3rd quarter valued at about $671,000. Finally, Acuta Capital Partners LLC acquired a new position in Acer Therapeutics during the 2nd quarter valued at about $2,360,000. 7.49% of the stock is currently owned by institutional investors.

Acer Therapeutics Company Profile

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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