Roth MKM Downgrades Acer Therapeutics

Fintel reports that on September 1, 2023, Roth MKM downgraded their outlook for Acer Therapeutics (NASDAQ:ACER) from Buy to Neutral.

Analyst Price Forecast Suggests 776.56% 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 776.56% from its latest reported closing price of 1.28.

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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 41 funds or institutions reporting positions in Acer Therapeutics. This is a decrease of 3 owner(s) or 6.82% in the last quarter. Average portfolio weight of all funds dedicated to ACER is 0.00%, an increase of 12.37%. Total shares owned by institutions decreased in the last three months by 44.40% to 2,608K shares. The put/call ratio of ACER is 0.06, 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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