Acer Therapeutics Inc (NASDAQ:ACER) Insider Acquires $49,997.50 in Stock

Acer Therapeutics Inc (NASDAQ:ACER) insider Donald Joseph bought 14,285 shares of Acer Therapeutics stock in a transaction dated Friday, July 24th. The shares were bought at an average cost of $3.50 per share, for a total transaction of $49,997.50. Following the completion of the acquisition, the insider now owns 14,285 shares in the company, valued at approximately $49,997.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ACER opened at $3.93 on Friday. The company’s 50 day moving average is $3.36 and its 200-day moving average is $3.25. Acer Therapeutics Inc has a 1-year low of $1.08 and a 1-year high of $7.25.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.09). On average, analysts expect that Acer Therapeutics Inc will post -1.38 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Acer Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Acer Therapeutics in a report on Tuesday, May 12th. Roth Capital reissued a “buy” rating on shares of Acer Therapeutics in a research note on Monday, June 29th. Needham & Company LLC restated a “hold” rating on shares of Acer Therapeutics in a research note on Friday, May 15th. Finally, ValuEngine lowered Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Acer Therapeutics currently has an average rating of “Hold” and a consensus target price of $6.88.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its position in Acer Therapeutics by 139.7% during the 4th quarter. UBS Group AG now owns 9,180 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 5,350 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Acer Therapeutics by 99.7% during the first quarter. Bank of New York Mellon Corp now owns 21,479 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 10,721 shares in the last quarter. State Street Corp boosted its stake in shares of Acer Therapeutics by 22.5% during the first quarter. State Street Corp now owns 136,735 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 25,156 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Acer Therapeutics by 39.0% during the first quarter. Federated Hermes Inc. now owns 89,770 shares of the biopharmaceutical company’s stock worth $179,000 after purchasing an additional 25,176 shares during the last quarter. 22.45% of the stock is currently owned by institutional investors.

Acer Therapeutics Company Profile

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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