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H.C. Wainwright Reiterates a Buy Rating on Acer Therapeutics Inc (ACER)


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Acer Therapeutics Inc (ACER) today and set a price target of $55. The company’s shares closed yesterday at $22.58.

Selvaraju noted:

“Valuation methodology, risks, and uncertainties. We value Acer using a composite risk-adjusted net present value (rNPV) approach, which employs a 15% discount rate and 30% effective tax rate across all future cash flows, while ascribing an 85% probability of success to EDSIVO and a 60% and 50% probability of success to MSUD, respectively. This yields a total rNPV of $600M, with $355M coming from EDSIVO and $250M from ACER-001. Assuming approximately 11M fully-diluted shares outstanding as of mid-2019, this translates into a price objective of $55.00 per share.”

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -13.3% and a 24.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acer Therapeutics Inc with a $53 average price target.

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The company has a one-year high of $34.10 and a one-year low of $11.36. Currently, Acer Therapeutics Inc has an average volume of 33.31K.

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Acer Therapeutics, Inc. is a pharmaceutical company, which engages in the acquisition, development, and commercialization of therapies for patients with serious rare and ultra-rare diseases with critical unmet medical need. Its products include Edsivo and ACER-001. Edsivo is a type of celiprolol for Vascular Ehlers-Danlos syndrome.