Acer Therapeutics (ACER) PT Set at $55.00 by HC Wainwright

HC Wainwright set a $55.00 target price on Acer Therapeutics (NASDAQ:ACER) in a research note released on Wednesday, April 17th, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on ACER. BidaskClub upgraded Acer Therapeutics from a sell rating to a hold rating in a research note on Saturday, April 13th. Zacks Investment Research upgraded Acer Therapeutics from a hold rating to a buy rating and set a $27.00 target price for the company in a research note on Thursday, January 17th. Raymond James began coverage on Acer Therapeutics in a research note on Friday, February 15th. They set an outperform rating and a $40.00 target price for the company. Finally, Needham & Company LLC began coverage on Acer Therapeutics in a research note on Thursday, December 20th. They set a buy rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $42.50.

Shares of Acer Therapeutics stock remained flat at $$19.58 on Wednesday. The stock had a trading volume of 52,715 shares, compared to its average volume of 66,317. The firm has a market capitalization of $197.51 million, a P/E ratio of -7.86 and a beta of 2.46. Acer Therapeutics has a 52 week low of $16.02 and a 52 week high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.39). On average, equities analysts anticipate that Acer Therapeutics will post -3.08 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its holdings in Acer Therapeutics by 100.0% during the 4th quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 1,605 shares during the period. SG Americas Securities LLC acquired a new stake in Acer Therapeutics during the 1st quarter worth about $101,000. Laurion Capital Management LP acquired a new stake in Acer Therapeutics during the 1st quarter worth about $253,000. First Manhattan Co. grew its holdings in Acer Therapeutics by 44.4% during the 4th quarter. First Manhattan Co. now owns 13,000 shares of the biopharmaceutical company’s stock worth $261,000 after acquiring an additional 4,000 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings 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 worth $268,000 after acquiring an additional 8,659 shares during the period. Institutional investors and hedge funds own 30.20% of the company’s stock.

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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