Acer Therapeutics (NASDAQ:ACER)‘s stock had its “neutral” rating restated by investment analysts at William Blair in a research report issued on Friday, AnalystRatings.com reports.
A number of other equities research analysts have also recently weighed in on the company. Wedbush set a $48.00 price target on Acer Therapeutics and gave the stock a “buy” rating in a report on Monday, June 10th. Roth Capital lowered their price target on Acer Therapeutics from $66.00 to $9.00 in a report on Tuesday, June 25th. HC Wainwright restated a “buy” rating and issued a $10.00 price target (down previously from $55.00) on shares of Acer Therapeutics in a report on Wednesday, June 26th. ValuEngine upgraded Acer Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research raised Acer Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Acer Therapeutics has an average rating of “Hold” and an average target price of $30.33.
ACER stock traded down $0.02 on Friday, reaching $2.72. 5,047 shares of the company’s stock were exchanged, compared to its average volume of 229,555. The company has a fifty day moving average of $6.70. Acer Therapeutics has a twelve month low of $2.57 and a twelve month high of $34.10. The company has a market cap of $26.84 million, a price-to-earnings ratio of -1.09 and a beta of 1.57.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its stake in shares of Acer Therapeutics by 5.7% during the 4th quarter. Northern Trust Corp now owns 33,572 shares of the biopharmaceutical company’s stock worth $676,000 after purchasing an additional 1,797 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Acer Therapeutics by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 35,736 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 4,297 shares during the last quarter. Tibra Equities Europe Ltd acquired a new stake in Acer Therapeutics during the first quarter worth approximately $297,000. SG Americas Securities LLC acquired a new stake in Acer Therapeutics during the first quarter worth approximately $101,000. Finally, Laurion Capital Management LP acquired a new stake in Acer Therapeutics during the first quarter worth approximately $253,000. 31.11% of the stock is currently owned by hedge funds and other institutional investors.
About Acer Therapeutics
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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