Acer Therapeutics (NASDAQ:ACER) Given Neutral Rating at William Blair

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.

Acer Therapeutics (NASDAQ:ACER) last issued its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.04. On average, equities analysts anticipate that Acer Therapeutics will post -2.82 earnings per share for the current fiscal year.

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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Analyst Recommendations for Acer Therapeutics (NASDAQ:ACER)

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