Acer Therapeutics (NASDAQ:ACER) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Acer Therapeutics (NASDAQ:ACER) in a research report sent to investors on Tuesday, Zacks.com reports.

Several other brokerages also recently commented on ACER. William Blair restated a hold rating on shares of Acer Therapeutics in a research report on Friday, October 8th. Zacks Investment Research upgraded shares of Acer Therapeutics from a hold rating to a buy rating and set a $2.75 target price on the stock in a report on Tuesday, January 4th.

Shares of NASDAQ ACER opened at $2.21 on Tuesday. Acer Therapeutics has a fifty-two week low of $1.68 and a fifty-two week high of $5.39. The company has a 50 day simple moving average of $2.24 and a two-hundred day simple moving average of $2.43. The company has a market capitalization of $31.63 million, a price-to-earnings ratio of -2.07 and a beta of 1.19.

Acer Therapeutics (NASDAQ:ACER) last issued its earnings results on Friday, November 19th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. As a group, research analysts forecast that Acer Therapeutics will post -1.02 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new position in shares of Acer Therapeutics during the 2nd quarter worth about $33,000. XTX Topco Ltd purchased a new stake in Acer Therapeutics in the 2nd quarter valued at about $54,000. State Street Corp purchased a new stake in Acer Therapeutics in the 2nd quarter valued at about $71,000. Geode Capital Management LLC boosted its position in Acer Therapeutics by 38.8% in the 2nd quarter. Geode Capital Management LLC now owns 57,609 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 16,111 shares during the period. Finally, Vanguard Group Inc. boosted its position in Acer Therapeutics by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 179,143 shares of the biopharmaceutical company’s stock valued at $512,000 after buying an additional 11,094 shares during the period. 10.67% of the stock is owned by hedge funds and other institutional investors.

Acer Therapeutics Company Profile

Acer Therapeutics, Inc is a pharmaceutical company. It engages in the acquisition, development and commercialization of therapies for medical needs. Its product pipeline includes ACER-001 Edsivo and ACER-2820. The Edsivo is a type of celiprolol for Vascular Ehlers-Danlos syndrome. The ACER-001 is for the treatment of urea cycle disorders and Maple Syrup Urine diseases.

Read More: Retained Earnings

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