BlackRock Inc. raised its position in Acer Therapeutics Inc (NASDAQ:ACER) by 36.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,591 shares of the biopharmaceutical company’s stock after buying an additional 2,805 shares during the period. BlackRock Inc. owned about 0.11% of Acer Therapeutics worth $327,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Acer Therapeutics by 19,242.2% in the third quarter. JPMorgan Chase & Co. now owns 8,704 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 8,659 shares in the last quarter. First Manhattan Co. increased its holdings in Acer Therapeutics by 80.0% in the third quarter. First Manhattan Co. now owns 9,000 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 4,000 shares in the last quarter. EAM Investors LLC purchased a new position in Acer Therapeutics in the third quarter valued at $671,000. Emerald Mutual Fund Advisers Trust purchased a new position in Acer Therapeutics in the third quarter valued at $3,855,000. Finally, Heartland Advisors Inc. increased its holdings in Acer Therapeutics by 36.4% in the third quarter. Heartland Advisors Inc. now owns 210,000 shares of the biopharmaceutical company’s stock valued at $6,476,000 after buying an additional 56,000 shares in the last quarter. 30.92% of the stock is owned by institutional investors.
A number of research firms have weighed in on ACER. Zacks Investment Research cut shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Acer Therapeutics in a report on Wednesday, December 5th. BidaskClub cut shares of Acer Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Needham & Company LLC began coverage on shares of Acer Therapeutics in a report on Thursday, December 20th. They issued a “buy” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $49.20.
Acer Therapeutics (NASDAQ:ACER) last released its earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. As a group, research analysts forecast that Acer Therapeutics Inc will post -2.04 EPS for the current fiscal year.
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Acer Therapeutics Profile
Acer Therapeutics Inc, a pharmaceutical company, develops therapies for the treatment of rare diseases with critical unmet medical needs. Its product candidates include Celiprolol for the treatment of vascular Ehlers-Danlos syndrome; and ACER-001 for the treatment of urea cycle disorders and maple syrup urine disease.
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