A number of other research analysts have also commented on the company. Raymond James started coverage on Acer Therapeutics in a research report on Friday, February 15th. They set an outperform rating and a $40.00 price target for the company. BidaskClub raised Acer Therapeutics from a sell rating to a hold rating in a research report on Saturday, April 13th. Zacks Investment Research lowered Acer Therapeutics from a buy rating to a hold rating in a research report on Tuesday, January 15th. Finally, HC Wainwright set a $55.00 price target on Acer Therapeutics and gave the company a buy rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $42.50.
ACER opened at $19.12 on Wednesday. The company has a market cap of $214.26 million, a price-to-earnings ratio of -7.68 and a beta of 2.46. Acer Therapeutics has a one year low of $16.02 and a one year high of $34.10.
Several large investors have recently made changes to their positions in ACER. Bank of Montreal Can raised its position in shares of 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 acquiring an additional 1,605 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Acer Therapeutics in the 1st quarter worth approximately $101,000. Morgan Stanley raised its position in shares of Acer Therapeutics by 114.0% in the 1st quarter. Morgan Stanley now owns 5,625 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 2,996 shares in the last quarter. Citigroup Inc. bought a new position in shares of Acer Therapeutics in the 1st quarter worth approximately $221,000. Finally, Laurion Capital Management LP bought a new position in shares of Acer Therapeutics in the 1st quarter worth approximately $253,000. 30.78% of the stock is owned by hedge funds and other institutional investors.
About Acer Therapeutics
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.
Further Reading: Asset Allocation, Balancing Your Investments
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