Q3 2023 EPS Estimates for Acer Therapeutics Inc. (NASDAQ:ACER) Lifted by HC Wainwright

Acer Therapeutics Inc. (NASDAQ:ACER) – Equities researchers at HC Wainwright boosted their Q3 2023 earnings estimates for shares of Acer Therapeutics in a research note issued to investors on Tuesday, September 5th. HC Wainwright analyst V. Bernardino now anticipates that the biopharmaceutical company will post earnings per share of ($0.12) for the quarter, up from their previous forecast of ($0.22). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Acer Therapeutics’ current full-year earnings is ($0.50) per share. HC Wainwright also issued estimates for Acer Therapeutics’ Q4 2023 earnings at ($0.06) EPS and FY2024 earnings at $0.00 EPS.

Several other research firms have also weighed in on ACER. Roth Mkm lowered shares of Acer Therapeutics from a “buy” rating to a “neutral” rating and set a $1.50 price target for the company. in a research report on Friday, September 1st. Roth Capital reiterated a “neutral” rating and issued a $1.50 target price on shares of Acer Therapeutics in a research note on Friday, September 1st.

Acer Therapeutics Price Performance

Shares of Acer Therapeutics stock opened at $0.88 on Thursday. The firm has a market cap of $21.46 million, a PE ratio of -2.14 and a beta of 0.44. Acer Therapeutics has a 1 year low of $0.55 and a 1 year high of $4.56. The stock has a fifty day moving average price of $0.83 and a 200-day moving average price of $0.99.

Acer Therapeutics (NASDAQ:ACER) last issued its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03.

Institutional Investors Weigh In On Acer Therapeutics

Several institutional investors have recently added to or reduced their stakes in ACER. SVB Wealth LLC bought a new stake in shares of Acer Therapeutics in the fourth quarter valued at approximately $29,000. Hunter Associates Investment Management LLC raised its holdings in Acer Therapeutics by 215.8% during the 2nd quarter. Hunter Associates Investment Management LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 41,000 shares during the period. Renaissance Technologies LLC raised its holdings in Acer Therapeutics by 216.8% during the 2nd quarter. Renaissance Technologies LLC now owns 69,700 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 47,700 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of Acer Therapeutics during the fourth quarter worth $180,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Acer Therapeutics by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 96,330 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 5,515 shares during the period. 17.21% of the stock is owned by hedge funds and other institutional investors.

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.