Acer Therapeutics initiated with a Buy at Needham. Needham analyst Serge Belanger initiated Acer Therapeutics with a Buy rating and a price target of $48. The analyst sees the company as an “attractive under-the-radar orphan drug story with two late-stage derisked assets that have key transformational catalysts in 2019.” Belanger cites Acer’s lead product candidate currently under FDA review for the treatment of vascular Ehlers-Danlose syndrome that affects up to 5K people in the U.S. along with its ACER-001 drug candidate that is currently under development for Urea Cycle Disorders and on track for an NDA filing in late-2019.
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