Acer Therapeutics (ACER) Announces Quarterly Earnings Results

Acer Therapeutics (NASDAQ:ACER) announced its quarterly earnings data on Friday. The biopharmaceutical company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.10, MarketWatch Earnings reports.

Shares of ACER traded up $0.29 during midday trading on Friday, reaching $24.91. 7,116 shares of the stock were exchanged, compared to its average volume of 29,773. Acer Therapeutics has a 52 week low of $11.36 and a 52 week high of $34.10. The company has a market capitalization of $242.20 million, a price-to-earnings ratio of -6.49 and a beta of 2.75.

Several equities analysts have commented on ACER shares. ValuEngine raised Acer Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 9th. William Blair reaffirmed an “outperform” rating on shares of Acer Therapeutics in a research report on Tuesday, August 14th. Zacks Investment Research downgraded Acer Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, Raymond James raised Acer Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $31.00 to $46.00 in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.00.

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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.

Further Reading: Understanding Analyst Ratings

Earnings History for Acer Therapeutics (NASDAQ:ACER)

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