Acer Therapeutics Inc (ACER) Expected to Post Earnings of -$0.53 Per Share

Wall Street brokerages expect Acer Therapeutics Inc (NASDAQ:ACER) to announce earnings of ($0.53) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Acer Therapeutics’ earnings. The highest EPS estimate is ($0.47) and the lowest is ($0.57). Acer Therapeutics reported earnings of ($1.09) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 51.4%. The business is scheduled to report its next quarterly earnings report on Monday, November 12th.

According to Zacks, analysts expect that Acer Therapeutics will report full year earnings of ($2.22) per share for the current year, with EPS estimates ranging from ($2.29) to ($2.05). For the next financial year, analysts forecast that the company will post earnings of ($2.20) per share, with EPS estimates ranging from ($2.93) to ($1.41). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Acer Therapeutics.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Monday, August 13th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.09).

ACER has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Acer Therapeutics from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, June 18th. HC Wainwright set a $55.00 price objective on shares of Acer Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 15th. Raymond James initiated coverage on shares of Acer Therapeutics in a report on Friday, June 29th. They set an “outperform” rating and a $28.00 price objective for the company. BidaskClub downgraded shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Finally, William Blair restated an “outperform” rating on shares of Acer Therapeutics in a report on Tuesday, August 14th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $48.00.

Shares of ACER traded down $0.39 during trading hours on Monday, reaching $24.84. 9,856 shares of the stock traded hands, compared to its average volume of 31,331. Acer Therapeutics has a 52 week low of $11.36 and a 52 week high of $34.10. The firm has a market capitalization of $299.73 million, a P/E ratio of -6.47 and a beta of 2.45.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Acer Therapeutics by 2,015.8% in the second quarter. BlackRock Inc. now owns 7,786 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 7,418 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of Acer Therapeutics in the first quarter worth about $385,000. Acuta Capital Partners LLC purchased a new position in shares of Acer Therapeutics in the second quarter worth about $2,360,000. Finally, Heartland Advisors Inc. increased its stake in shares of Acer Therapeutics by 177.0% in the second quarter. Heartland Advisors Inc. now owns 154,000 shares of the biopharmaceutical company’s stock worth $3,326,000 after purchasing an additional 98,400 shares in the last quarter. Institutional investors and hedge funds own 7.43% 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.

Featured Story: Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on Acer Therapeutics (ACER)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Acer Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acer Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply