Zacks: Analysts Expect Acer Therapeutics Inc (ACER) to Post -$0.53 EPS

Equities analysts expect that Acer Therapeutics Inc (NASDAQ:ACER) will post earnings of ($0.53) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Acer Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.47) and the lowest estimate coming in at ($0.57). Acer Therapeutics reported earnings per share of ($1.09) in the same quarter last year, which would suggest a positive year over year growth rate of 51.4%. The firm is scheduled to issue its next earnings report on Monday, November 12th.

According to Zacks, analysts expect that Acer Therapeutics will report full-year earnings of ($2.22) per share for the current fiscal year, with EPS estimates ranging from ($2.29) to ($2.05). For the next year, analysts anticipate that the company will report earnings of ($2.20) per share, with EPS estimates ranging from ($2.93) to ($1.41). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Acer Therapeutics.

Acer Therapeutics (NASDAQ:ACER) last announced its quarterly earnings results on Monday, August 13th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.09).

Several equities research analysts recently commented on the stock. HC Wainwright set a $55.00 price objective on shares of Acer Therapeutics and gave the stock a “buy” rating in a research note on Monday, October 29th. BidaskClub lowered shares of Acer Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. William Blair reissued an “outperform” rating on shares of Acer Therapeutics in a research note on Tuesday, August 14th. ValuEngine raised shares of Acer Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Finally, Raymond James raised shares of Acer Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $31.00 to $46.00 in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.00.

NASDAQ:ACER opened at $25.09 on Thursday. Acer Therapeutics has a one year low of $11.36 and a one year high of $34.10. The stock has a market cap of $243.85 million, a P/E ratio of -6.53 and a beta of 2.75.

A number of large investors have recently bought and sold shares of ACER. Emerald Mutual Fund Advisers Trust bought a new stake in Acer Therapeutics during the third quarter worth about $3,855,000. Acuta Capital Partners LLC bought a new stake in Acer Therapeutics during the second quarter worth about $2,360,000. Heartland Advisors Inc. lifted its stake in shares of Acer Therapeutics by 177.0% in the second quarter. Heartland Advisors Inc. now owns 154,000 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 98,400 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Acer Therapeutics by 2,015.8% in the second quarter. BlackRock Inc. now owns 7,786 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 7,418 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in shares of Acer Therapeutics by 80.0% in the third quarter. First Manhattan Co. now owns 9,000 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 4,000 shares in the last quarter. 7.49% of the stock is currently owned by institutional investors and hedge funds.

Acer Therapeutics Company Profile

Acer Therapeutics Inc, a pharmaceutical company, develops therapies for the treatment of rare diseases with critical unmet medical needs. Its product candidates include Celiprolol for the treatment of vascular Ehlers-Danlos syndrome; and ACER-001 for the treatment of urea cycle disorders and maple syrup urine disease.

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