Acer Therapeutics (ACER) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Acer Therapeutics (NASDAQ:ACER) from a hold rating to a sell rating in a report issued on Friday.

A number of other research firms have also recently issued reports on ACER. William Blair reaffirmed an outperform rating on shares of Acer Therapeutics in a report on Tuesday, August 14th. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the stock a buy rating in a report on Wednesday, August 15th. Raymond James raised Acer Therapeutics from an outperform rating to a strong-buy rating and boosted their price objective for the stock from $31.00 to $46.00 in a report on Friday, August 17th. Zacks Investment Research cut Acer Therapeutics from a buy rating to a hold rating in a report on Thursday, August 16th. Finally, ValuEngine raised Acer Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $48.00.

Shares of Acer Therapeutics stock traded up $1.66 during trading on Friday, reaching $25.30. The company’s stock had a trading volume of 21,456 shares, compared to its average volume of 34,045. Acer Therapeutics has a one year low of $11.36 and a one year high of $34.10. The stock has a market capitalization of $229.76 million, a price-to-earnings ratio of -6.59 and a beta of 2.45.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Monday, August 13th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.09). Equities analysts predict that Acer Therapeutics will post -2.22 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in ACER. Heartland Advisors Inc. raised its holdings in Acer Therapeutics by 177.0% during the 2nd quarter. Heartland Advisors Inc. now owns 154,000 shares of the biopharmaceutical company’s stock worth $3,326,000 after purchasing an additional 98,400 shares during the last quarter. BlackRock Inc. raised its holdings in Acer Therapeutics by 2,015.8% during the 2nd quarter. BlackRock Inc. now owns 7,786 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 7,418 shares during the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Acer Therapeutics during the 2nd quarter worth about $2,360,000. Finally, First Manhattan Co. grew its position in shares of Acer Therapeutics by 80.0% during the 3rd quarter. First Manhattan Co. now owns 9,000 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 4,000 shares during the period. 7.43% of the stock is owned by hedge funds and other institutional investors.

Acer Therapeutics Company Profile

Acer Therapeutics Inc, a pharmaceutical company, develops therapies for the treatment of rare diseases with critical unmet medical needs. Its product candidates include Celiprolol for the treatment of vascular Ehlers-Danlos syndrome; and ACER-001 for the treatment of urea cycle disorders and maple syrup urine disease.

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