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.
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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