Acer Therapeutics (NASDAQ:ACER) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Acer Therapeutics (NASDAQ:ACER) from a hold rating to a buy rating in a research note released on Thursday, ValuEngine reports.

Several other brokerages have also issued reports on ACER. William Blair lowered shares of Acer Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. Roth Capital dropped their target price on shares of Acer Therapeutics from $66.00 to $9.00 in a research report on Tuesday, June 25th. BidaskClub upgraded shares of Acer Therapeutics from a sell rating to a hold rating in a research report on Saturday, April 13th. Wedbush set a $48.00 target price on shares of Acer Therapeutics and gave the company a buy rating in a research report on Monday, June 10th. Finally, Raymond James lowered shares of Acer Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Acer Therapeutics currently has a consensus rating of Hold and a consensus price target of $30.33.

ACER stock traded up $0.01 during midday trading on Thursday, hitting $2.73. 86,563 shares of the stock traded hands, compared to its average volume of 158,010. The firm has a market capitalization of $26.84 million, a price-to-earnings ratio of -1.10 and a beta of 1.57. The company’s fifty day moving average is $6.43. Acer Therapeutics has a 1-year low of $2.57 and a 1-year high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.83) by $0.04. As a group, equities research analysts forecast that Acer Therapeutics will post -2.82 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp boosted its position in Acer Therapeutics by 5.7% during the fourth quarter. Northern Trust Corp now owns 33,572 shares of the biopharmaceutical company’s stock worth $676,000 after acquiring an additional 1,797 shares during the last quarter. Sphera Funds Management LTD. acquired a new position in Acer Therapeutics during the first quarter worth about $1,215,000. Laurion Capital Management LP acquired a new position in Acer Therapeutics during the first quarter worth about $253,000. Geode Capital Management LLC boosted its position in Acer Therapeutics by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 35,736 shares of the biopharmaceutical company’s stock worth $719,000 after acquiring an additional 4,297 shares during the last quarter. Finally, Tibra Equities Europe Ltd acquired a new position in Acer Therapeutics during the first quarter worth about $297,000. Institutional investors and hedge funds own 31.11% of the company’s stock.

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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