Acer Therapeutics (NASDAQ:ACER) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acer Therapeutics (NASDAQ:ACER) in a research note published on Friday, March 9th. They currently have a $50.00 price objective on the biopharmaceutical company’s stock.

ACER has been the subject of several other reports. ValuEngine cut Acer Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. William Blair assumed coverage on Acer Therapeutics in a report on Friday, February 16th. They issued an outperform rating for the company. Finally, Roth Capital assumed coverage on Acer Therapeutics in a report on Monday, February 26th. They issued a buy rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Acer Therapeutics presently has an average rating of Hold and a consensus target price of $60.00.

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ACER stock traded down $0.77 during midday trading on Friday, hitting $18.50. The company’s stock had a trading volume of 7,505 shares, compared to its average volume of 29,560. Acer Therapeutics has a 1 year low of $5.69 and a 1 year high of $22.63. The stock has a market cap of $144.48, a P/E ratio of -4.96 and a beta of 2.31.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings data on Wednesday, March 7th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.10). equities research analysts forecast that Acer Therapeutics will post -3.22 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of ACER. Perceptive Advisors LLC purchased a new stake in Acer Therapeutics during the 4th quarter valued at about $2,091,000. J. Goldman & Co LP purchased a new stake in Acer Therapeutics during the 4th quarter valued at about $1,496,000. Stonepine Capital Management LLC purchased a new stake in Acer Therapeutics during the 4th quarter valued at about $1,385,000. Finally, Ardsley Advisory Partners purchased a new stake in Acer Therapeutics during the 4th quarter valued at about $212,000. Institutional investors own 7.41% of the company’s stock.

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About Acer Therapeutics

Acer Therapeutics Inc, formerly Opexa Therapeutics, Inc, is a pharmaceutical company. The Company is engaged in acquires, develops and intends to commercialize therapies for patients with serious rare diseases with critical unmet medical need. Its late-stage clinical pipeline includes Edsivo (celiprolol) and ACER-001.

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