Brokerages Expect Acer Therapeutics Inc (ACER) Will Announce Earnings of -$0.48 Per Share

Wall Street brokerages forecast that Acer Therapeutics Inc (NASDAQ:ACER) will announce earnings of ($0.48) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Acer Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.55) and the highest estimate coming in at ($0.44). Acer Therapeutics posted earnings per share of ($0.63) in the same quarter last year, which indicates a positive year-over-year growth rate of 23.8%. The business is expected to issue its next earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that Acer Therapeutics will report full year earnings of ($2.12) per share for the current year, with EPS estimates ranging from ($2.29) to ($2.01). For the next financial year, analysts expect that the company will report earnings of ($2.04) per share, with EPS estimates ranging from ($2.93) to ($1.06). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Acer Therapeutics.

Acer Therapeutics (NASDAQ:ACER) last released its earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10.

ACER has been the topic of a number of analyst reports. HC Wainwright set a $55.00 target price on Acer Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Acer Therapeutics from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, November 14th. BidaskClub lowered Acer Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. William Blair reiterated an “outperform” rating on shares of Acer Therapeutics in a report on Tuesday, August 14th. Finally, Raymond James upgraded Acer Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $31.00 to $46.00 in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $49.50.

Shares of ACER traded up $1.27 during mid-day trading on Friday, reaching $25.37. 14,835 shares of the company’s stock traded hands, compared to its average volume of 28,575. The stock has a market cap of $234.23 million, a price-to-earnings ratio of -6.61 and a beta of 2.75. Acer Therapeutics has a 12 month low of $11.36 and a 12 month high of $34.10.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings 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 valued at $168,000 after purchasing an additional 7,418 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 purchasing an additional 8,659 shares during the period. First Manhattan Co. boosted its holdings in shares of 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 purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Acer Therapeutics in the third quarter valued at approximately $346,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Acer Therapeutics in the third quarter valued at approximately $350,000. Hedge funds and other institutional investors own 15.97% 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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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