Zacks: Acer Therapeutics Inc (ACER) Given $60.00 Average Target Price by Analysts

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Acer Therapeutics Inc (NASDAQ:ACER) has received an average broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $60.00 for the company and are expecting that the company will post ($0.55) earnings per share for the current quarter, according to Zacks. Zacks has also given Acer Therapeutics an industry rank of 93 out of 255 based on the ratings given to its competitors.

ACER has been the topic of a number of research reports. Zacks Investment Research downgraded Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. ValuEngine upgraded Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Acer Therapeutics in a research report on Friday, March 9th. Finally, Roth Capital started coverage on Acer Therapeutics in a research report on Monday, February 26th. They set a “buy” rating and a $70.00 target price on the stock.

Shares of Acer Therapeutics traded up $1.43, reaching $20.68, on Friday, Marketbeat.com reports. The stock had a trading volume of 27,728 shares, compared to its average volume of 21,325. The company has a market cap of $142.90 million, a P/E ratio of -5.39 and a beta of 2.31. Acer Therapeutics has a 1 year low of $5.80 and a 1 year high of $22.63.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Monday, May 14th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.16. sell-side analysts expect that Acer Therapeutics will post -2.29 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. purchased a new position in Acer Therapeutics during the first quarter valued at $1,071,000. Neuberger Berman Group LLC purchased a new position in Acer Therapeutics during the first quarter valued at $385,000. J. Goldman & Co LP purchased a new position in Acer Therapeutics during the fourth quarter valued at $1,496,000. Ardsley Advisory Partners purchased a new position in Acer Therapeutics during the fourth quarter valued at $212,000. Finally, Perceptive Advisors LLC purchased a new position in Acer Therapeutics during the fourth quarter valued at $2,091,000. Institutional investors own 8.17% of the company’s stock.

About Acer Therapeutics

Acer Therapeutics Inc develops therapies for the treatment of serious ultra-rare diseases with critical unmet medical needs. The company offers Celiprolol for vascular ehlers-danlos syndrome and ACER-001 for maple syrup urine disease (MSUD). It also offers advancing ACER-001 for the treatment of urea cycle disorders (UCD).

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