Acer Therapeutics Inc (NASDAQ:ACER) Forecasted to Post Q4 2020 Earnings of $0.31 Per Share

Acer Therapeutics Inc (NASDAQ:ACER) – Analysts at William Blair boosted their Q4 2020 earnings per share estimates for shares of Acer Therapeutics in a research report issued to clients and investors on Tuesday, June 25th, according to Zacks Investment Research. William Blair analyst T. Lugo now expects that the biopharmaceutical company will earn $0.31 per share for the quarter, up from their prior estimate of $0.23. William Blair currently has a “Market Perform” rating on the stock.

Several other research firms also recently issued reports on ACER. BidaskClub raised shares of YRC Worldwide from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Raymond James downgraded shares of Allergan from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Wedbush set a $223.00 price target on shares of Ascendis Pharma A/S and gave the stock a “buy” rating in a research note on Monday, June 10th. Needham & Company LLC downgraded shares of Acer Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Finally, Roth Capital dropped their price target on shares of Acer Therapeutics from $66.00 to $9.00 in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $30.33.

Shares of NASDAQ:ACER traded up $0.17 during midday trading on Wednesday, hitting $3.06. 322,896 shares of the company’s stock traded hands, compared to its average volume of 155,786. The firm has a market capitalization of $30.16 million, a P/E ratio of -1.23 and a beta of 1.57. The firm has a fifty day moving average price of $11.03. Acer Therapeutics has a twelve month low of $2.73 and a twelve month high of $34.10.

Acer Therapeutics (NASDAQ:ACER) last posted its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.83) by $0.04.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Acer Therapeutics by 1,898.5% during the third 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. Bank of Montreal Can raised its holdings in shares of Acer Therapeutics by 100.0% during the fourth quarter. Bank of Montreal Can now owns 3,210 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 1,605 shares during the period. Northern Trust Corp raised its holdings in shares of Acer Therapeutics by 5.7% during the fourth quarter. Northern Trust Corp now owns 33,572 shares of the biopharmaceutical company’s stock valued at $676,000 after acquiring an additional 1,797 shares during the period. Geode Capital Management LLC raised its holdings in shares of Acer Therapeutics by 13.7% during 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. Finally, Barclays PLC acquired a new stake in shares of Acer Therapeutics during the fourth quarter valued at approximately $499,000. 31.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for Acer Therapeutics (NASDAQ:ACER)

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