Zacks Investment Research Upgrades Acer Therapeutics (NASDAQ:ACER) to Hold

Acer Therapeutics (NASDAQ:ACER) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, May 9th.

According to Zacks, “Acer Therapeutics Inc. is a pharmaceutical company. It develops therapies for the treatment of ultra-rare diseases with critical unmet medical need. The company’s product pipeline consists of Edsivo (TM) and ACER-001 which are in clinical stage. Acer Therapeutics Inc., formerly known as Opexa Therapeutics, Inc., is based in Cambridge, United States. “

A number of other brokerages have also recently commented on ACER. ValuEngine raised shares of Acer Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Acer Therapeutics in a report on Friday, March 9th. Roth Capital assumed coverage on shares of Acer Therapeutics in a report on Monday, February 26th. They set a “buy” rating and a $70.00 target price for the company. Finally, William Blair assumed coverage on shares of Acer Therapeutics in a report on Friday, February 16th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $47.33.

Acer Therapeutics opened at $19.82 on Wednesday, according to Marketbeat. Acer Therapeutics has a twelve month low of $18.40 and a twelve month high of $18.40.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings data on Monday, May 14th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.16. research analysts forecast that Acer Therapeutics will post -2.45 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC purchased a new stake in Acer Therapeutics during the fourth quarter valued at approximately $2,091,000. J. Goldman & Co LP purchased a new stake in Acer Therapeutics during the fourth quarter valued at approximately $1,496,000. Stonepine Capital Management LLC purchased a new stake in Acer Therapeutics during the fourth quarter valued at approximately $1,385,000. Heartland Advisors Inc. purchased a new stake in Acer Therapeutics during the first quarter valued at approximately $1,071,000. Finally, Neuberger Berman Group LLC purchased a new stake in Acer Therapeutics during the first quarter valued at approximately $385,000. 7.68% of the stock is owned by institutional investors and hedge funds.

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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