Roth Capital reiterated their neutral rating on shares of Acer Therapeutics (NASDAQ:ACER – Free Report) in a research note published on Friday morning, Benzinga reports. Roth Capital currently has a $1.50 price objective on the biopharmaceutical company’s stock.
Separately, Roth Mkm downgraded Acer Therapeutics from a buy rating to a neutral rating and set a $1.50 price objective for the company. in a research note on Friday.
Acer Therapeutics Price Performance
Acer Therapeutics (NASDAQ:ACER – Get Free Report) last posted its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. On average, research analysts anticipate that Acer Therapeutics will post -0.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Acer Therapeutics
Hedge funds have recently modified their holdings of the stock. Armistice Capital LLC purchased a new stake in Acer Therapeutics in the first quarter worth $1,672,000. Nantahala Capital Management LLC raised its stake in Acer Therapeutics by 76.0% in the 4th quarter. Nantahala Capital Management LLC now owns 1,226,191 shares of the biopharmaceutical company’s stock valued at $3,078,000 after acquiring an additional 529,653 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Acer Therapeutics during the second quarter valued at about $253,000. Knott David M Jr bought a new position in Acer Therapeutics during the fourth quarter worth about $351,000. Finally, Vanguard Group Inc. increased its stake in shares of Acer Therapeutics by 55.5% in the first quarter. Vanguard Group Inc. now owns 278,215 shares of the biopharmaceutical company’s stock worth $807,000 after purchasing an additional 99,335 shares in the last quarter. Institutional investors own 17.21% of the company’s stock.
Acer Therapeutics Company Profile
Acer Therapeutics Inc, a pharmaceutical company, focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. The company's pipeline includes four clinical-stage candidates comprising EDSIVO for the treatment of vascular Ehlers-Danlos Syndrome in patients with a confirmed type III collagen mutation; ACER-801 for the treatment of induced Vasomotor Symptoms, post-traumatic stress disorder, and prostate cancer; and OLPRUVA, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders and maple syrup urine disease.
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