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.
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.
Recommended Story: What is the Rule of 72?
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.