Zacks: Brokerages Expect Acer Therapeutics (ACER) Will Announce Earnings of -$0.69 Per Share

Wall Street analysts expect Acer Therapeutics (NASDAQ:ACER) to announce ($0.69) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Acer Therapeutics’ earnings, with estimates ranging from ($0.72) to ($0.66). Acer Therapeutics reported earnings per share of ($1.24) in the same quarter last year, which would suggest a positive year-over-year growth rate of 44.4%. The company is scheduled to announce its next quarterly earnings report on Friday, May 11th.

On average, analysts expect that Acer Therapeutics will report full year earnings of ($3.22) per share for the current year, with EPS estimates ranging from ($3.72) to ($2.83). For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.55) per share, with EPS estimates ranging from ($2.81) to ($2.07). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Acer Therapeutics.

Acer Therapeutics (NASDAQ:ACER) last posted its earnings results on Wednesday, March 7th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.10).

A number of research firms have recently weighed in on ACER. Zacks Investment Research cut shares of Acer Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, March 9th. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Acer Therapeutics in a report on Friday, March 9th. Roth Capital began coverage on shares of Acer Therapeutics in a report on Monday, February 26th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, William Blair began coverage on shares of Acer Therapeutics in a report on Friday, February 16th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Acer Therapeutics has an average rating of “Hold” and an average price target of $60.00.

NASDAQ ACER traded down $0.22 during trading on Thursday, reaching $18.99. 20,934 shares of the company’s stock traded hands, compared to its average volume of 25,915. The company has a market capitalization of $140.58, a price-to-earnings ratio of -4.92 and a beta of 2.31. Acer Therapeutics has a 12-month low of $5.69 and a 12-month high of $22.63.

Large investors have recently added to or reduced their stakes in the company. Ardsley Advisory Partners acquired a new stake in Acer Therapeutics in the 4th quarter worth approximately $212,000. Stonepine Capital Management LLC acquired a new stake in Acer Therapeutics in the 4th quarter worth approximately $1,385,000. J. Goldman & Co LP acquired a new stake in Acer Therapeutics in the 4th quarter worth approximately $1,496,000. Finally, Perceptive Advisors LLC acquired a new stake in Acer Therapeutics in the 4th quarter worth approximately $2,091,000. Institutional investors and hedge funds own 7.41% of the company’s stock.

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Acer Therapeutics Company Profile

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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