Acer Therapeutics (ACER) Upgraded at BidaskClub

BidaskClub upgraded shares of Acer Therapeutics (NASDAQ:ACER) from a sell rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

ACER has been the subject of several other research reports. Zacks Investment Research upgraded shares of Acer Therapeutics from a hold rating to a buy rating and set a $27.00 target price for the company in a research report on Thursday, January 17th. HC Wainwright set a $55.00 target price on shares of Acer Therapeutics and gave the company a buy rating in a research report on Thursday, December 27th. Raymond James assumed coverage on shares of Acer Therapeutics in a research report on Friday, February 15th. They set an outperform rating and a $40.00 target price for the company. Finally, Needham & Company LLC assumed coverage on shares of Acer Therapeutics in a research report on Thursday, December 20th. They set a buy rating and a $48.00 target price for the company. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $42.50.

NASDAQ:ACER opened at $25.75 on Friday. Acer Therapeutics has a 52-week low of $16.02 and a 52-week high of $34.10. The firm has a market cap of $281.41 million, a price-to-earnings ratio of -10.34 and a beta of 2.60.



Acer Therapeutics (NASDAQ:ACER) last posted its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.39). Equities analysts expect that Acer Therapeutics will post -2.67 earnings per share for the current year.

Several institutional investors have recently modified their holdings of ACER. Bank of Montreal Can raised its position in shares of Acer Therapeutics by 100.0% during the 4th quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 1,605 shares during the last quarter. First Manhattan Co. raised its position in shares of Acer Therapeutics by 44.4% during the 4th quarter. First Manhattan Co. now owns 13,000 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 4,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Acer Therapeutics by 19,242.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,704 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 8,659 shares during the last quarter. Fosun International Ltd bought a new stake in shares of Acer Therapeutics during the 4th quarter valued at $291,000. Finally, Tibra Equities Europe Ltd bought a new stake in shares of Acer Therapeutics during the 1st quarter valued at $297,000. Institutional investors own 30.04% of the company’s stock.

About Acer Therapeutics

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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