Acer Therapeutics (ACER) Lifted to “Hold” at Zacks Investment Research

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Acer Therapeutics (NASDAQ:ACER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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. “

ACER has been the topic of a number of other research reports. Raymond James assumed coverage on shares of Acer Therapeutics in a report on Friday, February 15th. They issued an “outperform” rating and a $40.00 price objective on the stock. HC Wainwright set a $55.00 price objective on shares of Acer Therapeutics and gave the stock a “buy” rating in a report on Wednesday, April 17th. ValuEngine cut shares of Acer Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Finally, BidaskClub upgraded shares of Acer Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Acer Therapeutics currently has an average rating of “Buy” and an average price target of $42.50.

Shares of NASDAQ ACER traded down $2.20 during midday trading on Friday, hitting $19.04. 3,915 shares of the company traded hands, compared to its average volume of 68,442. Acer Therapeutics has a 12-month low of $16.02 and a 12-month high of $34.10. The stock has a market capitalization of $211.79 million, a P/E ratio of -7.65 and a beta of 2.46.

Acer Therapeutics (NASDAQ:ACER) last announced its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.04. On average, equities analysts anticipate that Acer Therapeutics will post -3.08 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in ACER. BlackRock Inc. grew its holdings in shares of Acer Therapeutics by 36.0% during the third quarter. BlackRock Inc. now owns 10,591 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 2,805 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Acer Therapeutics during the third quarter valued at approximately $346,000. Vanguard Group Inc. grew its holdings in shares of Acer Therapeutics by 1,898.5% during the third quarter. Vanguard Group Inc. now owns 244,033 shares of the biopharmaceutical company’s stock valued at $7,526,000 after buying an additional 231,822 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Acer Therapeutics by 1,898.5% during the third quarter. Vanguard Group Inc now owns 244,033 shares of the biopharmaceutical company’s stock valued at $7,526,000 after buying an additional 231,822 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Acer Therapeutics by 100.0% during the fourth quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 1,605 shares during the last quarter. Institutional investors and hedge funds own 30.78% of the company’s stock.

About Acer Therapeutics

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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