Acer Therapeutics (NASDAQ:ACER) Trading Up 7.2%

Acer Therapeutics Inc (NASDAQ:ACER) was up 7.2% on Friday . The company traded as high as $2.19 and last traded at $2.09, approximately 481,800 shares changed hands during trading. An increase of 206% from the average daily volume of 157,661 shares. The stock had previously closed at $1.95.

A number of equities analysts have recently weighed in on ACER shares. Roth Capital lowered their target price on Acer Therapeutics from $66.00 to $9.00 in a research note on Tuesday, June 25th. Raymond James downgraded Acer Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. ValuEngine raised Acer Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Acer Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Needham & Company LLC downgraded Acer Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Acer Therapeutics presently has an average rating of “Hold” and an average target price of $30.33.

The stock has a 50-day moving average of $3.01 and a 200-day moving average of $16.51.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.78) by ($0.31). Equities research analysts anticipate that Acer Therapeutics Inc will post -2.83 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of ACER. Northern Trust Corp increased its holdings in Acer Therapeutics by 5.7% in the fourth quarter. Northern Trust Corp now owns 33,572 shares of the biopharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,797 shares during the last quarter. Geode Capital Management LLC grew its stake in Acer Therapeutics by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 35,736 shares of the biopharmaceutical company’s stock valued at $719,000 after acquiring an additional 4,297 shares during the period. SG Americas Securities LLC acquired a new position in Acer Therapeutics in the first quarter valued at about $101,000. Laurion Capital Management LP acquired a new position in Acer Therapeutics in the first quarter valued at about $253,000. Finally, Sphera Funds Management LTD. acquired a new position in Acer Therapeutics in the first quarter valued at about $1,215,000. 31.05% of the stock is currently owned by institutional investors and hedge funds.

Acer Therapeutics Company Profile (NASDAQ:ACER)

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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