Acer Therapeutics (ACER) Given a $50.00 Price Target at HC Wainwright

HC Wainwright set a $50.00 price objective on Acer Therapeutics (NASDAQ:ACER) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Roth Capital initiated coverage on shares of Acer Therapeutics in a report on Monday, February 26th. They issued a buy rating and a $70.00 price objective on the stock. Zacks Investment Research raised shares of Acer Therapeutics from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Thursday, May 17th. ValuEngine raised shares of Acer Therapeutics from a sell rating to a hold rating in a report on Wednesday, May 2nd. Finally, William Blair initiated coverage on shares of Acer Therapeutics in a report on Friday, February 16th. They issued an outperform rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Acer Therapeutics currently has an average rating of Buy and an average price target of $47.33.

ACER stock opened at $18.22 on Tuesday. Acer Therapeutics has a 12 month low of $5.69 and a 12 month high of $22.63.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings data on Monday, May 14th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.16. research analysts forecast that Acer Therapeutics will post -2.29 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ardsley Advisory Partners acquired a new position in shares of Acer Therapeutics in the 4th quarter valued at $212,000. Stonepine Capital Management LLC acquired a new position in shares of Acer Therapeutics in the 4th quarter valued at $1,385,000. J. Goldman & Co LP acquired a new position in shares of Acer Therapeutics in the 4th quarter valued at $1,496,000. Perceptive Advisors LLC acquired a new position in shares of Acer Therapeutics in the 4th quarter valued at $2,091,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Acer Therapeutics in the 1st quarter valued at $385,000. Hedge funds and other 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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