Wedbush Reiterates $48.00 Price Target for Acer Therapeutics (NASDAQ:ACER)

Wedbush set a $48.00 price objective on Acer Therapeutics (NASDAQ:ACER) in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ACER has been the topic of several other research reports. Raymond James started coverage on Acer Therapeutics in a report on Friday, February 15th. They set an outperform rating and a $40.00 price objective on the stock. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the stock a buy rating in a report on Wednesday, April 17th. ValuEngine raised Acer Therapeutics from a hold rating to a buy rating in a report on Tuesday, June 4th. Zacks Investment Research downgraded Acer Therapeutics from a hold rating to a sell rating in a report on Wednesday, May 8th. Finally, BidaskClub raised Acer Therapeutics from a sell rating to a hold rating in a report on Saturday, April 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Acer Therapeutics presently has a consensus rating of Buy and an average price target of $43.60.

Shares of ACER opened at $15.54 on Monday. The company has a market capitalization of $156.35 million, a PE ratio of -6.24 and a beta of 2.36. Acer Therapeutics has a one year low of $15.22 and a one year high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last announced its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.04. Research analysts anticipate that Acer Therapeutics will post -3.1 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Nantahala Capital Management LLC raised its position in shares of Acer Therapeutics by 30.7% during the 4th quarter. Nantahala Capital Management LLC now owns 903,455 shares of the biopharmaceutical company’s stock valued at $18,178,000 after acquiring an additional 212,067 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Acer Therapeutics by 1,898.5% during the 3rd quarter. Vanguard Group Inc. now owns 244,033 shares of the biopharmaceutical company’s stock valued at $7,526,000 after acquiring an additional 231,822 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Acer Therapeutics during the 1st quarter valued at $1,262,000. Northern Trust Corp raised its position in shares of Acer Therapeutics by 15.6% during the 1st quarter. Northern Trust Corp now owns 38,822 shares of the biopharmaceutical company’s stock valued at $944,000 after acquiring an additional 5,250 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Acer Therapeutics by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 35,736 shares of the biopharmaceutical company’s stock valued at $719,000 after acquiring an additional 4,297 shares during the last quarter. 31.11% of the stock is currently owned by hedge funds and other institutional investors.

Acer Therapeutics Company Profile

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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