Wedbush Reiterates $48.00 Price Target for Acer Therapeutics (NASDAQ:ACER)

Acer Therapeutics (NASDAQ:ACER) received a $48.00 target price from equities research analysts at Wedbush in a research note issued on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Wedbush’s target price would indicate a potential upside of 209.68% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Acer Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Zacks Investment Research upgraded Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. BidaskClub upgraded Acer Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Finally, Raymond James started coverage on Acer Therapeutics in a research note on Friday, February 15th. They issued an “outperform” rating and a $40.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Acer Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $43.60.

Shares of Acer Therapeutics stock traded down $0.74 on Monday, reaching $15.50. 115,700 shares of the company were exchanged, compared to its average volume of 47,259. Acer Therapeutics has a one year low of $15.22 and a one year high of $34.10. The stock has a market cap of $165.07 million, a P/E ratio of -6.22 and a beta of 2.36.

Acer Therapeutics (NASDAQ:ACER) last announced its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.04. Analysts forecast that Acer Therapeutics will post -3.1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of ACER. Vanguard Group Inc. raised its stake in Acer Therapeutics by 1,898.5% in the 3rd quarter. Vanguard Group Inc. now owns 244,033 shares of the biopharmaceutical company’s stock valued at $7,526,000 after acquiring an additional 231,822 shares during the period. Nantahala Capital Management LLC raised its stake in Acer Therapeutics by 30.7% in the 4th quarter. Nantahala Capital Management LLC now owns 903,455 shares of the biopharmaceutical company’s stock valued at $18,178,000 after acquiring an additional 212,067 shares during the period. Raymond James & Associates bought a new stake in Acer Therapeutics in the 1st quarter valued at $1,262,000. Barclays PLC bought a new stake in Acer Therapeutics in the 4th quarter valued at $499,000. Finally, ExodusPoint Capital Management LP bought a new stake in Acer Therapeutics in the 1st quarter valued at $328,000. Institutional investors and hedge funds own 31.11% of the company’s stock.

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.

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Analyst Recommendations for Acer Therapeutics (NASDAQ:ACER)

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