Acer Therapeutics Inc (NASDAQ:ACER) Expected to Announce Earnings of -$0.81 Per Share

Equities analysts predict that Acer Therapeutics Inc (NASDAQ:ACER) will post ($0.81) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Acer Therapeutics’ earnings. The highest EPS estimate is ($0.58) and the lowest is ($0.97). Acer Therapeutics posted earnings of ($0.64) per share in the same quarter last year, which indicates a negative year over year growth rate of 26.6%. The business is scheduled to report its next quarterly earnings results on Monday, August 12th.

According to Zacks, analysts expect that Acer Therapeutics will report full-year earnings of ($2.77) per share for the current fiscal year, with EPS estimates ranging from ($3.42) to ($2.17). For the next year, analysts forecast that the firm will report earnings of ($1.52) per share, with EPS estimates ranging from ($1.78) to ($1.14). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Acer Therapeutics.

Acer Therapeutics (NASDAQ:ACER) last posted its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.83) by $0.04.

A number of analysts have recently commented on ACER shares. Needham & Company LLC cut Acer Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target (down from $55.00) on shares of Acer Therapeutics in a research report on Wednesday, June 26th. BidaskClub upgraded Acer Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Raymond James cut Acer Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Wedbush set a $48.00 price target on Acer Therapeutics and gave the stock a “buy” rating in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.33.

Shares of Acer Therapeutics stock traded down $0.21 on Friday, reaching $2.38. The company’s stock had a trading volume of 138,699 shares, compared to its average volume of 203,547. The firm has a market capitalization of $26.23 million, a P/E ratio of -0.96 and a beta of 1.54. Acer Therapeutics has a 52-week low of $2.34 and a 52-week high of $34.10. The business has a 50-day simple moving average of $4.41.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of Acer Therapeutics by 5.7% during the fourth quarter. Northern Trust Corp now owns 33,572 shares of the biopharmaceutical company’s stock worth $676,000 after purchasing an additional 1,797 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Acer Therapeutics by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 35,736 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 4,297 shares in the last quarter. Tibra Equities Europe Ltd purchased a new stake in shares of Acer Therapeutics during the first quarter worth approximately $297,000. SG Americas Securities LLC purchased a new stake in shares of Acer Therapeutics during the first quarter worth approximately $101,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Acer Therapeutics during the first quarter worth approximately $253,000. Hedge funds and other institutional investors own 31.07% of the company’s stock.

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.

Read More: Why do analysts give a neutral rating?

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

Earnings History and Estimates for Acer Therapeutics (NASDAQ:ACER)

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.