In a report released yesterday, Kumaraguru Raja from Brookline Capital Markets maintained a Buy rating on Acer Therapeutics Inc (ACER), with a price target of $56. The company’s shares closed yesterday at $25.61.
Raja commented:
“We believe the combination of survival benefit with celiprolol, dose-dependent benefit of celiprolol treatment, and lowering of annual incidence of arterial events are rational arguments to favor celiprolol’s use in vEDS, especially in COL3A1-mutated disease.”
According to TipRanks.com, Raja is a 4-star analyst with an average return of 19.3% and a 58.0% success rate. Raja covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Heat Biologics, and Rexahn Pharma.
Currently, the analyst consensus on Acer Therapeutics Inc is a Strong Buy with an average price target of $47.50, which is an 85.5% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $55 price target.
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Based on Acer Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.5 million. In comparison, last year the company had a GAAP net loss of $3.98 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.
