Fintel reports that on September 5, 2023, HC Wainwright & Co. downgraded their outlook for Acer Therapeutics (NASDAQ:ACER) from Buy to Neutral.
Analyst Price Forecast Suggests 1,044.90% Upside
As of August 31, 2023, the average one-year price target for Acer Therapeutics is 11.22. The forecasts range from a low of 10.10 to a high of $12.60. The average price target represents an increase of 1,044.90% from its latest reported closing price of 0.98.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acer Therapeutics is 27MM, an increase of 7,330.83%. The projected annual non-GAAP EPS is -0.62.
What is the Fund Sentiment?
There are 40 funds or institutions reporting positions in Acer Therapeutics. This is a decrease of 4 owner(s) or 9.09% in the last quarter. Average portfolio weight of all funds dedicated to ACER is 0.00%, an increase of 12.86%. Total shares owned by institutions decreased in the last three months by 44.44% to 2,606K shares. The put/call ratio of ACER is 0.09, indicating a bullish outlook.
What are Other Shareholders Doing?
Nantahala Capital Management holds 1,136K shares representing 4.65% ownership of the company. In it’s prior filing, the firm reported owning 1,203K shares, representing a decrease of 5.87%. The firm increased its portfolio allocation in ACER by 45.12% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 297K shares representing 1.21% ownership of the company. No change in the last quarter.
Hudson Bay Capital Management holds 274K shares representing 1.12% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Anson Funds Management holds 130K shares representing 0.53% ownership of the company. No change in the last quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 118K shares representing 0.48% ownership of the company. No change in the last quarter.
Acer Therapeutics Background Information
(This description is provided by the company.)
Acer is a pharmaceutical company focused on the acquisition, development and commercialization of therapies for serious rare and life-threatening diseases with significant unmet medical needs. Acer’s pipeline includes four programs: ACER-001 (a taste-masked, immediate release formulation of sodium phenylbutyrate) for the treatment of various inborn errors of metabolism, including urea cycle disorders (UCDs) and Maple Syrup Urine Disease (MSUD); emetine hydrochloride, a host-directed therapy against a variety of infectious diseases, initially for the treatment of patients with COVID-19; EDSIVO™ (celiprolol) for the treatment of vascular Ehlers-Danlos syndrome (vEDS) in patients with a confirmed type III collagen (COL3A1) mutation; and osanetant for the treatment of induced Vasomotor Symptoms (iVMS). Each of Acer’s product candidates is believed to present a comparatively de-risked profile, having one or more of a favorable safety profile, clinical proof-of-concept data, mechanistic differentiation and/or accelerated paths for development through specific programs and procedures established by the FDA.
This article originally appeared on Fintel
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