HC Wainwright Analysts Give Acer Therapeutics (ACER) a $55.00 Price Target

HC Wainwright set a $55.00 price objective on Acer Therapeutics (NASDAQ:ACER) in a research report released on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ACER has been the subject of a number of other research reports. BidaskClub raised shares of Acer Therapeutics from a sell rating to a hold rating in a research report on Saturday, April 13th. Zacks Investment Research raised shares of Acer Therapeutics from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Thursday, January 17th. 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 price objective 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 price objective for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $42.50.

Shares of NASDAQ:ACER opened at $19.78 on Wednesday. Acer Therapeutics has a fifty-two week low of $16.02 and a fifty-two week high of $34.10. The stock has a market cap of $199.52 million, a P/E ratio of -7.94 and a beta of 2.60.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of ACER. Bank of Montreal Can grew its position in Acer Therapeutics by 100.0% in the 4th quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,605 shares during the last quarter. First Manhattan Co. grew its position in Acer Therapeutics by 44.4% in the 4th quarter. First Manhattan Co. now owns 13,000 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 4,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in Acer Therapeutics by 19,242.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,704 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 8,659 shares during the last quarter. Fosun International Ltd bought a new position in Acer Therapeutics in the 4th quarter worth about $291,000. Finally, Tibra Equities Europe Ltd bought a new position in Acer Therapeutics in the 1st quarter worth about $297,000. Hedge funds and other institutional investors own 30.16% of the company’s stock.

Acer Therapeutics Company 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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