Acer Therapeutics Inc (NASDAQ:ACER) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $28.50.
ACER has been the subject of several research analyst reports. William Blair reiterated a “neutral” rating on shares of Acer Therapeutics in a research note on Friday, August 2nd. Zacks Investment Research cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating on shares of Acer Therapeutics in a research note on Wednesday, October 30th. Finally, ValuEngine upgraded shares of Acer Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Acer Therapeutics by 1,560.8% during the 2nd quarter. BlackRock Inc. now owns 331,553 shares of the biopharmaceutical company’s stock worth $1,293,000 after acquiring an additional 311,590 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Acer Therapeutics during the 2nd quarter worth about $42,000. Charles Schwab Investment Management Inc. bought a new stake in Acer Therapeutics during the 2nd quarter worth about $47,000. Northern Trust Corp grew its holdings in Acer Therapeutics by 24.4% during the 2nd quarter. Northern Trust Corp now owns 48,313 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 9,491 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Acer Therapeutics during the 2nd quarter worth about $67,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.
Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings data on Wednesday, November 13th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.05. On average, sell-side analysts forecast that Acer Therapeutics will post -2.7 earnings per share for the current year.
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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