Acer Therapeutics (ACER) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Acer Therapeutics (ACERResearch Report) today and set a price target of $10.00. The company’s shares closed last Wednesday at $3.22.

According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 32.8% and a 56.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Turning Point Therapeutics, and Black Diamond Therapeutics.

Currently, the analyst consensus on Acer Therapeutics is a Moderate Buy with an average price target of $10.00, representing a 219.5% upside. In a report issued on June 29, Roth Capital also initiated coverage with a Buy rating on the stock with a $10.00 price target.

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Based on Acer Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.95 million. In comparison, last year the company had a GAAP net loss of $7.97 million.

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Acer Therapeutics, Inc. is a pharmaceutical company, which engages in the acquisition, development, and commercialization of therapies for medical needs. Its product pipeline includes Edsivo and ACER-001. The Edsivo is a type of celiprolol for Vascular Ehlers-Danlos syndrome. The ACER-001 is for the treatment of urea cycle disorders and Maple Syrup Urine diseases. The company was founded by Christopher Schelling in September 2017 and is headquartered in Newton, MA.