Zacks Investment Research downgraded shares of Acer Therapeutics (NASDAQ:ACER) from a hold rating to a sell rating in a research note published on Friday.
According to Zacks, “Acer Therapeutics Inc. is a pharmaceutical company. It develops therapies for the treatment of ultra-rare diseases with critical unmet medical need. The company’s product pipeline consists of Edsivo (TM) and ACER-001 which are in clinical stage. Acer Therapeutics Inc., formerly known as Opexa Therapeutics, Inc., is based in Cambridge, United States. “
A number of other equities analysts also recently issued reports on the company. HC Wainwright started coverage on Acer Therapeutics in a research note on Wednesday, December 20th. They set a buy rating for the company. Roth Capital started coverage on Acer Therapeutics in a research note on Monday, February 26th. They set a buy rating and a $70.00 target price for the company. William Blair started coverage on Acer Therapeutics in a research note on Friday, February 16th. They set an outperform rating for the company. Finally, ValuEngine downgraded Acer Therapeutics from a hold rating to a sell rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Acer Therapeutics currently has an average rating of Hold and an average target price of $60.00.
Acer Therapeutics (NASDAQ:ACER) last posted its quarterly earnings data on Wednesday, March 7th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.10). research analysts forecast that Acer Therapeutics will post -3.2 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC purchased a new position in shares of Acer Therapeutics during the 4th quarter worth approximately $2,091,000. J. Goldman & Co LP purchased a new position in shares of Acer Therapeutics during the 4th quarter worth approximately $1,496,000. Stonepine Capital Management LLC purchased a new position in shares of Acer Therapeutics during the 4th quarter worth approximately $1,385,000. Finally, Ardsley Advisory Partners purchased a new position in shares of Acer Therapeutics during the 4th quarter worth approximately $212,000. 7.54% of the stock is owned by institutional investors and hedge funds.
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About Acer Therapeutics
Acer Therapeutics Inc, formerly Opexa Therapeutics, Inc, is a pharmaceutical company. The Company is engaged in acquires, develops and intends to commercialize therapies for patients with serious rare diseases with critical unmet medical need. Its late-stage clinical pipeline includes Edsivo (celiprolol) and ACER-001.
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